Mid-City-based Golden Bee Properties has received nearly $50 million in financing for a variety of multifamily properties in L.A.
The financing is a capitalization of seven multifamily properties and purchase financing for a two-property portfolio in Long Beach.

NorthMarq’s Zalmi Klyne arranged the financing.
Southfield East and West, a 143-unit multifamily property, received roughly $30 million. It is located at 5565 and 5700 S. Ackerfield Ave. in Long Beach.

The transaction consisted of a two-year bridge loan with three one-year extensions.
“The lender understood Golden Bee’s acquisition/rehab plans and understood ADUs,” Klyne said in a statement. “They stuck with the borrower through many deal changes and ended up receiving the best terms available.”

The other portfolio, known as the South Los Angeles Portfolio, received nearly $19 million. The portfolio consists of seven multifamily properties with a total of 108 units.
The loan is a permanent-fixed loan from a regional bank structured with three-year
interest-only terms.

“Golden Bee has already finished the majority of the rehab/renovation of the properties. The recapitalization and cash-out of these deals will allow them to maximize value and take these assets to the next level,” Klyne said in a statement.

Golden Bee Properties was founded in 2011 with a focus on workforce housing in Southern California and Southern Nevada.
The firm currently has $200 million of real estate under management.

A number of other large loans have been processed in L.A. recently. MetroGroup Realty Finance announced last month it arranged $58.7 million in financing for seven industrial properties in L.A. and Orange counties. The largest was a five-building industrial park in Pomona that received $29 million. And in January a California portfolio owned by a private investor that includes L.A. properties received $223 million in permanent financing.