Costa Mesa, CA
Commercial Property Value Add06/01/2018
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.