Closed Transactions
Property 1
Loan Amount: $10.2 Million
Interest Rate: 14%
LTV: 50%
Loan Term: 12 months
Location: Detroit, MI
Description
This loan is a bridge loan on a historic building in Detroit. The group of owners needed to bridge the gap as they enhanced their capital stack and obtained a construction loan. The borrowers signed a recourse loan with ample assets. The property also received a grant from the city and had several term sheets from major boutique hotel brands.
Property 2
Loan Amount: $300,000
Interest Rate: 10.5%
CLTV: 32%
Loan Term: 2 Years
Location: Southern California
Description
This is a line of credit to high quality borrowers on a prime property in Southern California. The rents on the property are 4 times the mortgage payments, taxes and insurance.
Property 3
Loan Amount:
$1,875,000 (fractional investment)
Interest Rate: 10.5%
CLTV: 48%
Loan Term: 3 Years
Location: Temecula, CA
Description
New 1st TD to accommodate a PACE Construction loan where the owner is improving the property for anchor tenants. Borrower intends to take us out and PACE with a new SBA loan in 24 to 36 months. This loan is also cross collateralized on primary borrowers' residence. Borrower has good credit and assets.
Property 4
Loan Amount: $495,000
Interest Rate: 10.75%
LTV: 45%
Loan Term: 2 Years
Location: Seal Beach, CA
Description
Business purpose cash out on non-owner SFR to assist borrowers on expansion of business. Excellent Credit. (Paid Off)
Property 5
Loan Amount: $550,000
Interest Rate: 11.25%
LTV: 42%
Loan Term: 2 Years
Location: Seal Beach, CA
Description
Business purpose Cash Out non-owner SFR to assist borrowers on expansion of business. Excellent Credit. (Paid Off)
Property 6
Loan Amount: $665,000
Interest Rate: 11.25%
LTV: 35%
Loan Term: 2 Years
Location: Seal Beach, CA
Description
Business Purpose Cash Out Cross Collateralized on two commercial properties and borrowers residence. Excellent Credit. (Paid off)
Property 7
Loan Amount: $175,000
Interest Rate: 12%
LTV: 35%
Loan Term: 2 Years
Location: Naples Island, Long Beach, CA
Description
Business purpose Cash Out. SFR. Excellent Credit. (Paid off)