Los Angeles, CA

$2,400,000

Single Family Residence

Purchase

12/16/2014
Transaction by
Wilshire Finance Partners
$2.4M Bridge loan for the acquisition of a large single family home in the Hancock Park neighborhood of Los Angeles. The Borrower had a very short window to execute the purchase. The purchase price was $3.5M, he put down $1.1M in cash and Wishire funded 68% loan-to-cost. With a tenant in place and fresh capital into the deal, Wilshire was able to fund the loan in just 5 days. Hancock park is a historical neighborhood of LA with lots of beautiful victorian homes. The Borrower plans to refinance soon to pay off this 1st trust deed bridge loan.