Santa Fe Springs, CA
Archway Fund closed 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, CA. 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 guaranty the loan. This bridge loan was funded in October 2018.