San Jose, CA

$1,300,000

Assisted Living Facility, Senior Housing

Purchase

12/15/2014
Transaction by
Wilshire Finance Partners
$1.3M Private money bridge loan for the purchase of a residential care facility in San Jose, CA. The purchase price was $2.1M, the Borrower put down $800,000 in cash so the LTV is only 62%. The Borrower is an experienced cae facility operator. He plans to refinance with a SBA loan to pay off this bridge loan within 3 years. Wilshire was able to close in just 14 days.