The borrower purchased an 8,423 sq. ft. building on .65 acre light-industrial property in Costa Mesa for $4.0 million for his towing business.
This was a stock purchase of the existing corporation.
There are two separate adjacent parcels, but only one of the properties will be used as collateral.
The borrower will be leasing one of the properties to their own tow business and will pay
$10,000 per month in rent.
While the other property will continue being occupied by the existing tenant who is currently paying $12,000 per month in rent.
The borrower received a $650,000 private money loan from us to complete the acquisition.
There was also a 2nd position bridge loan for $150,000 by a different lender.
The borrower has excellent credit, a high net worth and owns several properties throughout Los Angeles County and Orange County.
Regardless of if you need a private money loan to complete a 1031 exchange transaction in Irvine or are a foreign national looking to acquire an investment property in Anaheim, we can get your project funded in as little as 5 to 7 days.
Come see why Crescent Lenders is the leading Southern California bridge lender for all types of real estate investors.
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