Crescent Lenders funded the purchase of a 3-bedroom, 2-bathroom, 1440-square-foot house in Culver City, Los Angeles.
The home was purchased by a real estate investment company that transformed the property into an assisted living facility.
This company has extensive experience operating assisted care facilities throughout Southern California.
The borrower put down $600,000, and Crescent Lenders provided the remaining $650,000 through a hard money loan.
These numbers translate into a loan-to-value ratio of 52%, which means a low risk in the event something goes wrong.
The combination of a low loan-to-value ratio, fantastic property location, and the borrower’s past successful track record made this loan a great investment for Crescent Lenders.
Once the assisted living facility is renovated and operational, the borrower plans to sell the property and business as his exit strategy from the hard money loan.
Whether you need a probate loan to manage an inherited property in the prestigious Beverly Hills area or funding for a fix-and-flip loan for the up-and-coming area of Inglewood, our team of experts can help guide you through the process and provide the financial support you need.
Want to know more about our financing options? Find out why we are the best hard money lenders in Southern California.
