Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $35.5 million loan to refinance maturing debt on The HW by CLG, a class A multifamily community located at 7928 Hollywood Blvd. in Los Angeles at the western edge of the Hollywood Entertainment District. The property is a modern rendition of the classic Hollywood courtyard building and offers 79-units in one- and two-bedroom floorplans, featuring modern interiors and kitchens, full size in-home washer/dryer, oversized showers with marble surrounds, and distressed plank floors with plush bedroom carpeting. Property amenities include landscaped tile courtyards and fountains, outdoor kitchen and grill, hot and cold dipping pools, fitness center, screening room, business center, and a rooftop deck with views of the city and Hollywood Hills.

Gantry’s Andy Bratt, Principal, and Sean Kuang, Associate, with the firm’s Irvine production office represented the borrower, CLG. The stretch senior, three-year, non-recourse, fixed rate loan includes full-term interest only and prepayment flexibility with a one-year extension option. Gantry will service the loan on behalf of its Life Insurance Correspondent.

“Every CLG property tells its own story, and The HW by CLG is no exception,” noted Gantry’s Andy Bratt. “Situated at the base of the Hollywood Hills, this iconic asset stands out as a premier multifamily property performing at the top of its class in one of Los Angeles’ most vibrant districts. CLG sought a cash-neutral refinance that would provide both stability and strategic flexibility. Through a short-term, fixed-rate, interest-only, non-recourse loan with prepayment flexibility and an extension option, our correspondent life insurance company partner provided stretch senior financing with highly competitive rates and terms to meet the borrower’s goals. The result is a tailored financing structure that allows CLG to maximize performance and optionality as they evaluate multiple business plans over the next several years.”