Atlanta, GA

$1,050,000

Commercial Land

Refinance

12/28/2018
Transaction by
Wilshire Quinn Capital, Inc.
Wilshire Quinn Capital funded a 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 private mortgage was funded in December 2018.