Deal Details
Private Loan Type
Commercial Property Value Add
Approx. Funding Date
05/03/2019
Property Type
Multifamily
Property City
Klamath Falls
Property State
OR
Lien Type
1st Mortgage
Payment Type
Interest Only
Exit Strategy
Refinance
Deal Summary
Cetan Funds, a private money lender based in Oregon, funded a $410,000 1st lien position bridge loan for a multifamily apartment in Klamath Falls, OR. We financed a purchase and rehab of an 8-unit apartment building near a nursing school in Klamath Falls, OR. The Borrower fixed up the units and doubled occupancy in 6 months. Just a few months later, they successfully refinanced with a local bank for a long-term hold and solid cash flow. This purchase and rehab loan was funded in May 2019.