Project Description
Construction of Retail and Restaurant Space in Bellflower, CA
Loan Amount: $5,200,000
Loan Type: Construction
Challenge
The borrower was seeking a $5.2M Construction Loan to develop 9,038 SF of retail and restaurant space for investment in Bellflower, CA.
· Borrower’s financial liquidity was limited
· Credit Score considered only “Fair”
Solution
Due to:
· Pre-lease agreement from national credit tenant
· Borrower was an experienced developer/project manager
· Substantial equity contribution to project
Grand Pacific was able to provide:
· $5.2M Construction Loan
· 63% LTC
· 66% LTV of Stabilize Value
Contact Us |
Past Loans |
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(323) 780-0855 |