Bridge Loan for Retail Property in Escondido, California

Funded by Archway Capital

$4,625,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

07/31/2019

Property Type
Retail
Property City

Escondido

Property State

CA

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

70%

Rate Type

Fixed

Occupancy at Closing

Vacant

Interest Rate

8.75%

Origination Points

2%

Deal Summary

Archway Fund, an alternative investment manager, provided a $4,625,000 1st lien position bridge loan for the acquisition of an 11,000-square-foot retail property in Escondido, San Diego County, CA. The Sponsor purchased the vacant property with plans to build it out for a national car rental company as their executed tenant. Their exit strategy is to season the property under new ownership & management and then refinance with SBA or conventional financing. The loan-to-value was 70%. The interest rate on this bridge loan was fixed at 8.75%. We charged an origination fee of 2 points. The loan term was set at 12 months. This private mortgage was funded in July 2019.

Funded By

Archway Capital

National Non-Recourse Bridge Loan & Equity Provider