Our borrower purchased a .24 acre property containing a 3,000 sq. ft. concrete block building for $1,575,000 in Los Angeles, California.
The building is zoned commercial/light industrial and was delivered vacant.
The buyer was in negotiations with a prospective tenant for a long-term lease.
The borrower owns two other similar types of buildings and has had a positive experience in this property type and location.
The buyer put down $550,000 toward the purchase, resulting in a loan-to-value ratio of 65%.
We met with the borrower at the property site and were very comfortable with the borrower and the collateral asset.
Crescent Lenders has been providing California bridge loans to commercial and residential real estate investors for over a decade.
Whether you need a trust loan for an inherited property in Beverly Hills or you have a hard money loan coming due in Long Beach and need refinance, we would be happy to discuss lending options.
We Can Deliver Rapid Financing
Between $200k and $5 million dollars
Nationwide private lender (not a broker, avoid the extra fees)
Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges and cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064