Construction for a SFR in Los Angeles
Loan Amount: $2,746,000 + $636,600
Loan Type: Construction & Mezzanine
Our returning borrower was seeking to Construct a SFR in Los Angeles however required a high leverage.
• Sponsor was light on liquidity and was simultaneously conducting 2 high leverage projects with Grand Pacific
• Borrower was seeking 100% of hard and soft cost and nearly 90% of the acquisition
The leverage for this project was out of Grand Pacific’s construction loan programs scope.
Working on a similarly structured deal with the same borrower, Grand Pacific was able to proceed with this deal with ease.
• Returning borrower with an established relationship and successful track record
• Provided 100% of the borrower’s request with our aggressive structuring
Ultimately, the borrower was able to develop two properties while investing less equity than one project would require.