Irvine, CA

$536,250

Industrial

Refinance

11/13/2014
Transaction by
Wilshire Finance Partners
$536K Private money bridge loan to refinance and cash out equity on an industrial building in the Irvine Spectrum neighborhood of Irvine, CA. The Borrower needed quick cash out to take advantage of a technology contract to help him grow his business. He has operated his business at the building since 2001. Wilshire Finance Partners paid of the previous mortgage balance of $440,000 and provided the Borrower with the cash out needed within 11 days. He plans to refinance with a conventional loan to pay off this 1st trust deed bridge loan within 2 years.