Chatsworth, CA

$750,000

Single Family Residence

Purchase

12/08/2020
Transaction by
S&L Capital Group
The team at S&L Capital Group values its Broker relationships and can move quickly to salvage 1031 exchanges. This deal was referred over through a Broker. The borrower had recently sold 1 investment property and had finally locked up the subject property as the second leg of his 1031 exchange. We were up against a tight closing window or else his 1031 was at risk of expiring. Our borrower needed a short term bridge loan with no interest guaranty or prepayment penalty as his plan was to refinance into a permanent loan a few months down the road. The team provided a 12 month bridge loan with no interest guaranty. This allowed the borrower to complete his 1031 exchange and refinance the property as quickly as possible in order to keep overall holding costs down.