Huntington Beach, CA

$4,000,000

Single Family Residence

Refinance

05/11/2021
Transaction by
Center Street Lending
Center Street Lending, a direct private lending firm based in Orange County, funded a $4MM bridge loan secured by a newly constructed single family residence in Huntington Beach, CA. The property is an oceanfront luxury home on Sunset Beach. This project was originally a ground-up construction loan which we funded at 80% loan-to-cost. Once the build was completed, we refinanced their construction loan internally to give the Borrower a lower rate until the property was sold. The estimated sale price is just under $8MM, so our bridge loan leverage is at sub 50% LTV. The loan includes an interest reserve. We were able to close both loans in less than 10 days with appraisals. This residential property bridge loan was funded in May 2021.