The borrower purchased a light industrial property in San Gabriel, California, which included real estate and business assets, for $2.5 million.
They made a 38% down payment, while Crescent Lenders provided the remaining amount through a private money loan of $960,000, with $660,000 for the real estate portion and $300,000 for the business assets.
The borrower is a high-net-worth individual with a proven track record of operating multiple tow yards in Los Angeles and Orange Counties, which has provided strong cash flow even during economic recessions.
Crescent Lenders recognized this as an excellent opportunity to provide a bridge loan for the acquisition.
Whether you need a bridge loan to acquire a mixed-use property in the up-and-coming downtown area of Pomona or require financing to purchase a multi-family complex in the trendy neighborhood of North Hollywood, Crescent Lenders is here to help you with all your private money loan needs in these dynamic parts of Southern California.
Learn more about our California bridge loan programs.
