Project Description

Construction of Retail and Restaurant Space in Bellflower, CA
Loan Amount: $5,200,000
Loan Type: Construction

Challenge

The borrower was seeking a $5.2M Construction Loan to develop 9,038 SF of retail and restaurant space for investment in Bellflower, CA.

· Borrower’s financial liquidity was limited
· Credit Score considered only “Fair”

Solution

Due to:

·       Pre-lease agreement from national credit tenant
·       Borrower was an experienced developer/project manager
·       Substantial equity contribution to project

Grand Pacific was able to provide:

·       $5.2M Construction Loan
·       63% LTC
·       66% LTV of Stabilize Value

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