Project Description

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Type of the loan: Construction Loan

Purpose

The purpose of this loan was for construction of a 3 story 7-unit apartment complex with a 15 car parking spot in South Gate.

Challenge

The projected plan for this property had considerably higher income then comparable complexes the area. Facing higher rent cost and stagnant population growth in South Gate our clients may suffer from an less than ideal occupancy rate.

Solution

Grand Pacific supports business pioneers and prides ourselves on being able to support unique projects.

Our analysis showed that the neighborhood had a stagnant population growth however after considering City of South Gate has plans to revitalize economy we projected the demand for newer apartment complexes will rise. Our clients are both had sufficient net worth and were experienced owners of a construction company. Grand pacific believed in our clients experience and insight and was able to support them throughout the project.

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California Finance Lender License# 6032068, 6050620.