LOS ANGELES—To ensure a speedy transaction, the American Musical and Dramatic Academy secured a short-term hard-money loan for the acquisition of its new office building in Hollywood. In an earlier story, GlobeSt.com reported that AMDA purchased the 19,750-square-foot office building from Hello & Co. for $10 million. AMDA financed 50% of the purchase with a loan funded by Lone Oak Fund.

“The Hollywood market is very hot right now,” Alexa Mizrahi, a senior loan officer at Lone Oak Fund, tells GlobeSt.com. “The buyer needed a quick close to beat out the competition. A successful close of escrow was imperative for this buyer to expand its current campus.” The loan has an 18-month term with 8.3% interest only. Because the borrower was able to secure this type of short-term loan with 50% cash down, the transaction was complete in less than 30 days.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.