Refinance Bridge Loan for Orange County Office Building in Mission Viejo, California

SDC Capital, a direct private lender based in Burbank, provided a $1,320,000 1st lien position bridge loan secured by a 12-unit multi-tenant office building in Mission Viejo, Orange County, CA. The Borrower’s previous mortgage was maturing, so we paid off 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 for 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. This CRE refinance loan was funded in March 2019.