Deal Details
Private Loan Type
Refinance
Approx. Funding Date
12/22/2021
Property Type
Property City
Anaheim
Property State
CA
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$1,540,000
Loan-to-Value
58%
Property Neighborhood
Orange County
Exit Strategy
Refinance
Origination Points
1%
Deal Summary
S&L Capital group, a direct private lending firm in Southern California, recently put together an $890,000 refinance bridge loan secured against an Industrial Warehouse property in Anaheim, Orange County, CA. Our client was sitting on a private money loan set to mature at the end of the year. Rather than pay an extension fee for a 12-month extension, he was able to leverage our low pricing for Multifamily and Industrial assets, lowering his interest rate by 1.5%. We only charged a 1% origination fee and $995 for loan documents. We did not require an appraisal or a due diligence deposit, and no personal guarantee was required. We determined the value to be approximately $1,540,000 which put our loan-to-value at 58%. We closed just 5 days after receiving the preliminary title report. The Borrower occupies the property and plans on refinancing us out with a permanent lender after next year’s tax filings. The loan term was set at 24 months with no prepayment penalty or yield maintenance. This bridge loan was funded in December 2021.