The collateral for this loan is a two-story commercial office building measuring 5,870 sq. ft., situated on a spacious 10,500 sq. ft. lot with ample parking. The property is conveniently located in Del Rey Oaks, adjacent to Monterey, and just a 10 to 15-minute drive from Carmel, California.
An appraisal was completed, and the property was valued at $1.75 million.
With a loan-to-value of 65%, this 1st Trust Deed loan is a favorable option for Crescent Lenders, especially considering the borrower's 30 years of experience in the cannabis business and possession of all state and city licensing permits for cannabis retail sales.
Furthermore, a second Trust Deed for $335,000 from a different lender is behind our new first Trust Deed, adding to this private money loan's strong equity position.
Maybe you need a bridge loan for an investment property in Carmel-by-the-Sea or would like to refinance a private money loan for a motel you own in the Big Sur area. Whatever your circumstances, we’re ready to show why we are your premier California hard money lender.
