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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
10/04/2018
Property Type
Property City
Santa Fe Springs
Property State
CA
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
66%
Rate Type
Fixed
Occupancy at Closing
All Units Occupied
Building Square Footage
40,000
Exit Strategy
SBA Loan
Interest Rate
9.5%
Deal Summary
Archway Fund, a direct private lender based in LA, provided a $6.1M non-recourse acquisition bridge loan secured by a 40,000 square-foot industrial building located in Santa Fe Springs, Southeast Los Angeles County, California. The Sponsor plans to recapitalize a portion of the equity partner’s acquisition costs and eventually refinance with a long-term SBA loan. The property is 100% occupied. The interest rate was 9.5% fixed for a term of 24 months. Loan-to-value was 66%, and the Sponsor did not have to personally guarantee the loan. This CRE bridge loan was funded in October 2018.
Funded By
Archway Capital
National Non-Recourse Bridge Loan & Equity Provider