Orange County Bridge Lenders for Commercial Real Estate

Private Mortgage Fund, LLC funded a $1,100,000 bridge loan secured by a commercial property in Orange County, California. It's a unique historic building in Downtown Garden Grove with street retail spaces as well as office space. The Borrowers purchased the property out of a distressed sale and have been working on a major renovation of the property. They needed some additional cash to complete the project. We paid off the previous lender and provide the cash out needed. Our loan was around 60% of the as-is value. PMF does not provide rehab loans with budget hold backs, and we do not lend on future value. We did our own in-house valuation, and no appraisal was required. The Borrowers expect to complete the renovations very quickly and then seek permanent financing once the property is stabilized. The loan term is 12 months, and we funded this bridge loan in August 2019.

Redwood Mortgage provided a private money cash out refinance bridge loan secured by a tenanted retail strip in Santa Ana, Orange County, CA. The property has a buildable pad, and the borrower wanted the cash out funds to build a cold shell on that pad, which is fully entitled and ready for construction. This was a low doc loan. We only required the rent roll, tenant leases, 2 years operating income statements, and a new appraisal. The appraised value was around $3,600,000 which puts our loan at a loan-to-value of 61%. The property is held in an irrevocable trust. This private money bridge loan was funded in August 2019.

SDC Capital provided a bridge loan secured by a multi-tenant office building in Mission Viejo, Orange County, CA. The Borrower's previous mortgage was maturing, so we paid of the bank's loan balance of $1,100,000. We also provided a cash out 2nd mortgage of $220,000 for working capital. The estimated value was $2,200,000. We were able to accommodate the borrower's request of a conservative loan-to-value with very competitive terms of 7.99% and 1 point, with a loan term of 12 months. We funded quickly and did not require an appraisal. The property is an 8,000 square foot office condominium building with 12 units. At the time of funding, the building was 100% occupied and cash flowing. The Borrower has the property on the market and plans to pay off our loans upon the sale.

Carlyle Capital funded a $2.4 million commercial bridge loan in Costa Mesa, CA. This was an acquisition loan where the borrower needed to secure purchase on a quality property in which the timeline for bank financing would’ve taken too long for. This is where Carlyle stepped in to meet the needs of a special situation for a short-term loan. The borrower showcased strong financials and the property was occupied and cash flowing. The interest rate was 7.99%, LTV was 70%, and the loan term was 12 months. Carlyle Capital was able to quickly close the entire deal in a 2-week period.