Project Description
Acquisition of a Light Industrial Building in Northridge, CA
Loan Amount: $2,737,000
Loan Type: Bridge
Challenge
Our Borrower was seeking a $2,737,000 Bridge Loan to purchase a light industrial building in Northridge, CA.
· Low net worth and limited liquidity from Borrower
· Subject is 100% vacant, to be owner-occupied after acquisition
· Required a rush closing timeline
Solution
Due to:
· Desirable property type
· Stable, strong income from the Borrower
Grand Pacific was able to provide:
· Close to $3MM loan
· 70% LTV
· Closing within 2 weeks
Contact Us |
Past Loans |
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(323) 780-0855 |
