Deal Status

Active

Property Address

9119 Indutry Way or 9793 Industrial Way

Adelanto, California

92301

Requested Loan Amount

6000000

Loan to Value

65

Loan Term

60

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Industrial

Industrial Property Types

Warehouse

Cannabis Business

Yes

Cannabis Use

Cultivation

Number of Units

1

Current Occupancy

Owner Occupied

Current Occupancy Percentage

100

Loan Type

Refinance

Square Footage

20000

Current Market Value

9500000

Existing Mortgages

  • 1st

Mortgage 1 Balance

4000000

Equity Cash Out

Yes

Equity Cash Out Purpose

Invest in Another Property

Equity Cash Out Details

The cash will be used to purchase another site for cultivation

Appraisal

Yes

Appraisal Date

01/04/2020

APN Parcel ID

3129-261-17

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

First Name

Eric

Last Name

Nelson

Company

The Varet Group

Role

Mortgage Broker

Location

El Segundo
California
USA