Phoenix, AZ

$1,900,000

Office

Purchase

09/20/2019
Transaction by
Newport Commercial Capital
Newport Commercial Capital funded a private money loan for the acquisition of a vacant commercial property in Phoenix, AZ. The purchase price was $1,950,000. The Borrowers contributed $50,000 towards the purchase price and will be funding the entire renovation budget themselves. They plan to rezone the property, build out the space, and then resell upon completion. The after-repaired value is estimated to be around $7,000,000. This was both the borrower’s first application and first loan with us. This private money loan was funded in September 2019.