Crescent Lenders Finances Purchase of Costa Mesa Tow Yard

Crescent Lenders recently financed the purchase of a $4 million tow truck yard for a repeat borrower.

The borrower owns a tow yard in Fullerton free and clear with an appraised value of $1.5 million and would like to cash-out $900,000 on the property.

Crescent Lenders will assume 1st position for $800,000 while a different lender will take a 2nd position on the property at $100,000.

Funds will be used by the borrower to purchase an additional tow yard in Costa Mesa which is located in Orange County.

The tow yard in Costa Mesa is being purchased for $4 million, the $900,000 hard money loan will be for the down payment.

After 18 months, the borrower plans to refinance into a traditional bank loan to help increase his cash flow.

Crescent Lenders has a long standing relationship with this borrower and have successfully funded multiple deals for him across Southern California.

His outstanding character, strong credit and years of experience in his industry made this an easy loan to fund.

$800,000
Amount

Location
Costa Mesa, Orange County

18 Months
Length

65
LTV

9.00
Rate

Purchase
Type

Industrial
Tow Yard

Exit Strategy
Refinance into traditional bank loan

Do You Need Real Estate Financing in Orange County?

Whether you are funding a fix and flip in Los Feliz or a drive thru in Costa Mesa, Crescent Lenders has you covered.

We fund all types of private money loans across Orange County and the Southern California region, not just tow yards.

For more information check out our Orange County hard money loan programs to learn how you can get started.

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