Eagle Group Finance Provides $7 Million Loan to Refi Low Income Housing Portfolio in S. Los Angeles

LOS ANGELES - May 28, 2015 - PRLog -- Eagle Group Finance, LP today announced that it has provided Premier Apartments, LP, with $7 million in short-term debt to refinance a portfolio of five low-income multifamily assets located in South

Los Angeles.

Eagle Group Finance funded the one-year interest-only loan in eight days following its receipt of the loan application.  The five assets securing the loan are located near U.S.C. and comprise a mix of 120 studio, one-, two- and three-bedroom apartments each qualified for Section 8 housing assistance. The portfolio is 100 percent occupied.

Premier is an experienced multifamily owner and operator with a particular focus on providing much needed housing for low-income tenants.  In operation for more than 40 years, Premier’s multifamily portfolio includes multiple properties throughout Southern California totaling more than 700 units.

“Section 8 Housing must meet specific housing quality standards and our financing allows Premier to continue offering safe and affordable rental housing,” said Eagle Group Finance President Brian Good.  “While each of the properties were in excellent condition, a portion of our loan proceeds will be used for general property upgrades across the entire portfolio including the installation of solar panels,” he said.

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 for more information about our loan program.