Loan Per Unit
Ground-Up & Construction Financing
Lotus arranged $190 million ground-up construction financing for a rare 54-unit hotel-branded luxury condominium and ground floor retail development in Beverly Hills.
Our Client desired to develop a site amassing a full city block along Wilshire Boulevard into Mandarin Oriental-branded luxury condominiums. Lotus was able to secure financing at $3.5 million per Unit, the highest ever in the state of California. Lotus was also able to negotiate a covenant-lite loan, issued with fewer restrictions on the borrower. Lotus succeeded at presenting an argument for the borrower’s business plan despite Beverly Hills not being known as a condo market.