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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
10/15/2022
Property Type
Property City
San Francisco
Property State
CA
Loan Term (months)
18
Lien Type
1st Mortgage
Payment Type
Amortized
Purchase Price
$2,125,000
Loan-to-Purchase Price
60%
Borrower's Contribution to Purchase
40%
Source of Borrower's Contribution
Cash
Property Neighborhood
Bayview
Location Type
Urban
Property Condition
Good
Occupancy at Closing
Owner-Occupied
Borrower's Plan
Continue Occupancy
Exit Strategy
Refinance
Deal Summary
Security Financial Services, a direct private lending firm, provided a $1,275,000 bridge loan to secure the acquisition of an owner-user industrial property in the Bayview neighborhood of San Francisco. We funded 60% of the purchase price, and the Borrower contributed 40% cash at closing. The subject property was in good condition and will be owner-occupied. The improvements were constructed in 1946 and are situated on one parcel. The Borrower plans to refinance into permanent financing within the 18-month loan term. The monthly payments were amortized. This industrial property bridge loan was funded in October 2022.
Funded By
Security Financial Services
Direct Lender for Northern California Property Investors | Established 1943