)
Deal Details
Private Loan Type
Purchase
Approx. Funding Date
10/01/2022
Property Type
Property City
Yamhill
Property State
OR
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$2,700,000
Loan-to-Purchase Price
77%
Borrower's Contribution to Purchase
23%
Source of Borrower's Contribution
Cash
Exit Strategy
Refinance
Deal Summary
Blue-inc Capital, a private lender based in Oregon, funded a $2,100,000 purchase bridge loan in 1st lien position for the acquisition of a vineyard in Yamhill, a small town approximately 30 miles West of Portland, OR. We funded 77% of the $2,700,000 purchase price, while the Borrower contributed 23% cash at closing. They utilized the ease and smooth process of local, private money for a fast close to acquire the subject property. The vineyard had been fully operational at the time of the purchase. The property included a tasting room, but it was in need of an upgrade. The Borrower plans to update the tasting room, add some space, and make other improvements to the property. They will refinance with traditional bank financing once changes and updates are completed. The loan term was set at 12 months. This purchase bridge loan was funded in October 2022.
Funded By
Blue-inc. Capital
Oregon's private lending solution for over 30 years