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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
07/15/2019
Property Type
Property City
Fairfield
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
60%
Rate Type
Fixed
Occupancy at Closing
All Units Occupied
Interest Rate
7.99%
Origination Points
1.5%
Deal Summary
Archway Fund, an alternative investment manager, financed a $4.65M 1st lien position refinance bridge loan secured by a 23,000-square-foot industrial property in Fairfield, Solano County, CA. The Sponsor’s mortgage was maturing and they needed a quick close to bridge the gap until the property sells. Archway Fund provided a smooth, quick closing process with non-recourse and no appraisal. We also provided a $1M equity cash out to be used for other investment opportunities. The property was fully occupied, and the loan-to-value was 60%. The interest rate on this bridge loan is 7.99% Interest Only fixed. We charged an origination fee of 1.5 points. The loan term is 12 months with 3 months of guaranteed interest. As with almost all of our deals, the Sponsor did not have to personally guarantee the loan. This refinance bridge loan was funded in July 2019.
Funded By
Archway Capital
National Non-Recourse Bridge Loan & Equity Provider