Bridge Loan for Multifamily Property Purchase & Rehab in Berkeley, California
Funded by Security Financial Services
$1,500,000
)
Deal Details
Private Loan Type
Commercial Property Value Add
Approx. Funding Date
09/15/2017
Property Type
Multifamily
Property City
Berkeley
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$1,150,000
Loan-to-Value
75%
Renovation Budget
$350,000
Deal Summary
Security Financial Services, a direct lender, funded a $1,500,000 1st lien position bridge loan for a 6-unit multifamily property purchase & rehab in Berkeley, CA. The first purchase was $1,150,000 and the second rehab was $350,000. Our loan-to-value was 75%. The loan term was set at 12 months. This bridge loan was funded in September 2017.
Funded By
Security Financial Services
Direct Lender for Northern California Property Investors | Established 1943