Bridge Loan for SFR Purchase in Studio City, California

Funded by Cityscape Finance, LLC

2,200,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

07/05/2022

Property Type
Single Family Residence
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

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