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Manhattan Beach Bridge Financing

Manhattan Beach, CA

$3,800,000

Manhattan Beach, CA

 

Funding Purpose

Provided 100% bridge financing for the sponsor to entitle the property for a high-end Spec build.

Property Description

Single-family residence in the affluent beach town of Manhattan Beach, CA.

Sponsors

Successful businessman in the medical field looking to break into the CA real estate market.

Challenges

  • Needed 100% financing, sponsor had a lack of real estate experience, seller gave a short closing window

Solutions

  • Utilized cross-collateralization, presented lender with full diligence upfront

Funding

  • Loan Amount (LTV)  100% 
  • Interest Rate  4.75% 
  • Term - 12 Months
  • Recourse  Full recourse
  • Interest Only - Full-term IO 


Frankie Paparella

Frankie Paparella

TITLE

Associate Director, Capital Advisor

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