Laguna Beach, CA
Single Family Residence
The Sponsor purchased a 1,224 square foot oceanfront property in the bluffs of South Laguna Beach for $4.81MM as an investment property. They requested 100% financing on the purchase in addition to closing costs. Therefore, Archway Fund structured the deal by cross-collateralizing three additional properties that the Sponsor owned free and clear bringing the total LTV down to 67%. Borrower plans to rent out the property for $19,000/month in the summer months. Archway Fund structured the deal with a quick-close, no appraisal required and minimal cash outlay by the borrower with the cross-collateral of 3 additional properties. This bridge loan was funded in June 2016.