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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
03/15/2023
Property Type
Multifamily
Property City
Los Angeles
Property State
CA
Loan Term (months)
48
Lien Type
1st Trust Deed
Purchase Price
$1,550,000
Loan-to-Purchase Price
65%
Source of Borrower's Contribution
Cash
Location Type
Urban
Property Condition
Fair
Occupancy at Closing
Partially Occupied
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Borrower Credit Rating
Fair
Interest Rate
7.95%
Origination Points
2.25%
Funded By
Diversified Mortgage
Multifamily Bridge Loans only. Interest Rates are 8.5% for 4-year term, 8.25% for 2 years, 7.95% for 1 year.
Dealmakers
Mike Meisenbach
Loan Agent
CA DRE Lic. 01049908