Private Money Refinance Loan for Industrial Land in Atlanta, Georgia

Funded by Wilshire Quinn Capital, Inc.

$1,050,000

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

12/28/2018

Property Type
Commercial Land
Property City

Atlanta

Property State

GA

Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value

$4,000,000

Loan-to-Value

26%

Lot Acreage

99

Deal Summary

Wilshire Quinn Capital, a portfolio bridge lender, funded a $1,050,000 1st lien position private money refinance loan secured by commercial land in Atlanta, Georgia. The subject property consists of six land tracts consisting of a total of 99 acres and is located on a major highway, adjacent to residential and industrial developments. The Borrower is using the funds to buy out an existing partner and prep the property for sale sometime next year. Site inspections are an important part of our underwriting process; we were able to walk the property and determine the overall activity of the area. The property is surrounded by national retail stores and is located less than a quarter of a mile from Interstate 20, a major thoroughfare in the area. The property was appraised for $4,000,000 so the loan-to-value is 26%. This CRE private mortgage loan was funded in December 2018.

Funded By

Wilshire Quinn Capital, Inc.

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