Project Description

Refinance and Cash Out on a Six Mixed-Use Units and a Townhome in Seattle, WA
Loan Amount: $1,647,000
Loan Type: Bridge


Our Borrower was seeking a $1,647,000 Bridge Loan to refinance and cash out on 2 Residential Units, 4 Retail Units, and a Townhome.

· Debt Service Ratio was relatively low
· Complicated entity structure


Due to:

· Attractive properties in a desirable location
· Experienced guarantors in Real Estate Development
· Relatively low LTV of 61%

Grand Pacific was able to provide:

· $1.6MM Bridge Loan
· Interest Payment Reserve
· Capital for future projects


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California Finance Lender License# 6032068
Loans made or arranged pursuant to a California Financing Law License.
NMLS ID: 2346991