Israel Discount Bank of New York (IDB Bank) is backing a multifamily portfolio in Los Angeles.
Panot Capital secured a $50.8 million refinance from IDB Bank for a portfolio of 10 properties completed in the 1920s with a total of 482 units in Hollywood and other parts of Los Angeles. The refinance comes on a seven-year term with four years of interest-only payments at a rate of 5.94 percent.
The lender did not immediately return a request for comment. Northmarq announced and arranged the financing.
“We had a complex borrowing structure; and through our insight of the market, we were able to deliver a below-market-rate loan on vintage brick buildings across Hollywood,” said Northmarq Senior Vice President and Managing Director Zalmi Klyne.
Aaron Iskowitz and Zain Sayed launched real estate investment management firm Panot Capital out of Houston late last year to focus on multifamily and mixed-use communities.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
Robert Khodadadian, skyline properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, The Commercial Observer, Retail For Lease, Commercial Observer, Commercial Office Lease
Channel, Finance, Refinance, 6731 Leland Way, Aaron Iskowitz, Multifamily, Zain Sayed, Zalmi Klyne, Los Angeles, Israel Discount Bank of New York, Northmarq, Panot Capital
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