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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
06/01/2018
Property Type
Property City
Costa Mesa
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
72%
Interest Rate
10.99%
Deal Summary
Carlyle Capital, a private money lender, funded a $2.4 million 1st lien position commercial bridge loan in Costa Mesa, California. 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. This purchase bridge loan was funded in June 2018.
Funded By
Carlyle Capital
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