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Deal Details
Private Loan Type
Residential Ground-Up Construction
Approx. Funding Date
11/01/2018
Property Type
Property City
Huntington Beach
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
90%
After-Repair Value
$65
Interest Rate
8%
Deal Summary
Carlyle Capital, a private money lender, funded a $1.3 million 1st lien position ground-up construction loan for a residential property in Huntington Beach, California. The Owners purchased one large lot and plan to develop it into two separate properties, side by side. The $1.3 million in funding was needed to begin construction on one of the two properties. An additional $1.4 million of funding was secured for the second lot through Carlyle Capital as well. The Developers plan on creating two properties that are both modern yet fit into the aesthetic of the neighborhood seamlessly. The piece of property is a diamond in the rough, right in the heart of beautiful Huntington Beach, a few short miles from iconic Surf City, USA. The interest rate was 8%, loan-to-cost was 90%, after-repair-value was 65% and the loan term was 12 months. This SFR private construction loan was funded in November 2018
Funded By
Carlyle Capital
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