San Fernando, CA

$1,200,000

Industrial

Refinance

05/30/2016
Transaction by
Wilshire Finance Partners
$1,200,000 1st trust deed private money loan secured by an industrial property in San Fernando, a city in Northwest Los Angeles County. The subject property is a single-user, tenant-occupied light industrial building. The gross building size is 14,800 square feet on a 0.53 acre lot. The estimated value is $2,500,000 so this private money loan is only 48% LTV (loan-to-value). The Borrower’s previous 1st mortgage was close to maturity and they needed to quickly refinance with a short-term private money loan. We paid off the previous loan and provided a new 1st mortgage with competitive terms, and closed in a timely manner. The term for our new loan is 2 years. The Borrower plans to eventually refinance out of our 1st position mortgage with a long-term SBA loan.