Eagle Group Finance Funds $8.75 MM Loan to Refi Former Samuel Goldwyn HQ Building in Century City

LOS ANGELES - March 3, 2015 - PRLog -- Eagle Group Finance today announced that it has closed a $8.75 million short-term loan to refinance a 24,869-square-foot, five-story commercial office building located at 10203 Santa Monica Blvd. in Century City.  Eagle Group Finance stepped in to provide the financing after another private lender, which was initially approached with this transaction, failed to deliver funding in a timely manner.

“We were excited to have the opportunity to work on this transaction,” said Eagle Group Finance President Brian Good. “The size and location of the property along with the value of the collateral is typical of the attributes we look for in our loan portfolio.  Consequently, we were able to execute quickly.”

The building, which was designed by Frank Gehry and originally built for Samuel Goldwyn, was completed in 1964 and most recently renovated in 2002.  Commuters who drive in and around the greater Century City area recognize the significance and value of this building.  The property is 98 percent leased, mostly to entertainment industry companies.

“Like most of our financings, the borrower had to close quickly,” added Good. “In this case the existing lender was not prepared to extend the maturity of the loan and the borrower was looking for a quick refinance of the property.  Our team was able to execute and close the loan in eight days,” Good added.   “The market for private lending appears to be robust as our deal flow has increased significantly over the past year and seems to be growing at an increasing rate.  This year, we expect both our loan volume and number of deals financed to equal or surpass all of our prior years combined.”

About Eagle Group Finance L.P.
Eagle Group Finance is a West Coast-based direct lender that provides short term bridge financing to commercial property owners at fixed interest rates on a non-recourse basis. Eagle lends on all property types in California, Nevada, Arizona, Colorado, and Texas. Visit our website at www.eaglegroupfinance.com  to see more details on our loan program.