Purchase of a Retail Plaza in El Centro, CA
Loan Amount: $3,900,000
Loan Type: Bridge

Challenge

Our Borrower was seeking a $3,890,000 Bridge Loan to purchase a retail-unanchored plaza in El Centro, CA.

· Borrower’s credit score was considered “Poor”
· Property isn’t situated in a major metropolitan area
· One vacant suite in subject property

Solution

Due to:

· Potential upside in rental income as tenants are currently under market rent lease
· Borrower’s experience as a Real Estate Investor/Developer

Grand Pacific was able to provide:

· $3.89MM Bridge Loan
· 67% LTV
· Successful 1031 Exchange Transaction