Deal Details
Private Loan Type
Commercial Property Value Add
Approx. Funding Date
12/15/2017
Property Type
Multifamily
Property City
Oakland
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$900,000
Loan-to-Value
75%
Renovation Budget
$300,000
Number of Units
6
Deal Summary
Security Financial Services, a direct private lending firm based in San Francisco, funded a $1,200,000 1st lien position private bridge loan for a 6-unit multifamily property in Oakland, CA. The purchase price was $900,000 and the rehab budget was $300,000. Our loan-to-cost was 75%. The loan term was set at 12 months. This private money loan was funded in December 2017.