A joint venture between MWest Holdings and BGO has received a $47.5 million loan from CIM Real Estate Debt Solutions via a fund that is managed by CIM. The loan will be used by the borrower to refinance debt on The View, a 13-story building located in Los Angeles’ Koreatown neighborhood.
The View offers 158 studio, one, and two-bedroom apartments with various floor plans. The View was first constructed in 1965. The property’s common areas and community amenities have benefited from ongoing maintenance and enhancements made by the current owners.
After extensive renovations, the property was purchased by CIM Group in August 2013. After CIM Group finished several upgrades to the apartments including the property’s leasing, and its management, MWest and BGO acquired the asset in December 2018.
The building is located at 3460 West 7th Street. The CIM Group representative Shaul Kuba made the loan for the joint venture between MWest Holdings and BGO possible. Furthermore, Sonny Kalsi represents BGO, and Karl Slovin represents MWest Holdings as the landlord. The successful loan transaction is evidence of these important people’s and businesses’ joint efforts.
