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Deal Details
Private Loan Type
Commercial Property Value Add
Approx. Funding Date
09/03/2021
Property Type
Commercial Condominium
Industrial
Property City
San Bernardino
Property State
CA
Loan Term (months)
36
Lien Type
1st Mortgage
Payment Type
Interest Only
Source of Borrower's Contribution
Cash
Term
3 years
Deal Summary
The Borrower needed private lending financing to acquire and rehab a commercial building in order to bring in a new tenant. Trinity Mortgage Fund, a direct real estate lender, provided a total loan commitment of $2,100,000 for the acquisition and rehab of the commercial building in San Bernardino, CA. The loan term was set at 3 years. Once the property is stabilized with the new tenant in place, the Borrower will seek conventional financing. This commercial acquisition and rehab loan was funded in September 2021.
Funded By
Trinity Mortgage Fund
Trusted and Experienced Direct Real Estate Lenders