)
Deal Details
Private Loan Type
Purchase
Approx. Funding Date
07/05/2022
Property Type
Property City
Studio City
Property State
CA
Loan Term (months)
18
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$3,500,000
Loan-to-Purchase Price
62.85%
Borrower's Contribution to Purchase
37.15%
Source of Borrower's Contribution
Cash
Location Type
Urban
Property Condition
Good
Building Square Footage
2,816
Borrower's Plan
Lease Property
Exit Strategy
Refinance
Borrower Credit Rating
Good
Deal Summary
Cityscape Finance, a direct private lending firm, funded a $2,200,000 bridge loan for the purchase of a single-family residence in Studio City, Los Angeles County, California. The purchase price was $3,500,000. We funded 62.85% of the purchase price, and the Borrower contributed 37.15% cash at closing. The Borrower had a good credit rating and lots of cash. They plan to stabilize the property with a tenant and then refinance into a 30-year rental loan within the 18-month loan term. The house was in good condition and is 2,816 square feet. This residential property bridge loan was funded in July 2022.
Funded By
Cityscape Finance, LLC
Price a Loan Online and Get Pre-Qualified Instantly