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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
03/02/2023
Property Type
Multifamily
Property City
Long Beach
Property State
CA
Loan Term (months)
24
Lien Type
1st Trust Deed
Property Value
$2,000,000
Loan-to-Value
58%
Location Type
Urban
Property Condition
Fair
Occupancy at Closing
Vacant
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
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