Project Description

Refinance and Cash Out on a Duplex in West Hollywood, CA
Loan Amount: $3,850,000
Loan Type: Bridge

Challenge

The subject property was a Duplex located in West Hollywood, CA.

· The current leases were short-term and had less than one year until termination
· The loan sponsor was not the sole member of borrowing LLC
· The borrower was seeking $1M Cash Out in addition to paying off existing lien

Solution

Due to:

· Strong Location
· Experienced Sponsor
· Strong Net Worth

Grand Pacific was able to provide:

· $3.85M Bridge Loan
· 72% LTV
· Over $1M Cash Out

 

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