Project Description
Cash Out on a Multifamily Apartment in Santa Monica, CA
Loan Amount: $1,800,000
Loan Type: Bridge
Challenge
The subject property was a 5-unit Multifamily Apartment located in Santa Monica, CA.
· The subject property was currently vacant
· The subject property was currently undergoing renovations
· The borrower was seeking Cash Out to purchase another investment property
Solution
Due to:
· Strong Location
· Experienced Sponsor
· Strong Net Worth
Grand Pacific was able to provide:
· $1.8M Bridge Loan
· 70% LTV
· Cash Out
· Full Interest Payment Reserve
Contact Us |
Past Loans |
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(323) 780-0855 |