Mountain View, CA
Auto Dealership, Retail
The borrower is a past client for Stonecrest. They own a successful motorcycle dealership and building, as well as another location in Mountain View. They were in need of some funds for inventory management purposes. We provided a $900,000 line of credit in 2nd position behind a $1.2MM 1st mortgage. The property was valued at $5.3MM, so the combined loan-to-value was around 40%. The building is approximately 11,200 sq ft and sits on a .71 acre lot. The commercial service zoning allows both commercial and industrial uses. California BMW occupies this commercial building. We funded this private money loan in December 2017.