Loan Amount | $1,850,000 |
Transaction | Acquisition |
Collateral | 8,334 square foot mixed-use building on a 3,484 square foot lot |
Location | Santa Barbara, California |
Purpose of Loan | Purchase of mostly vacant mixed-use building |
Exit Strategy | Permanent financing after leasing up vacant units |
Long Term | 12 Months with a 12 month option to extend |
Rate | 9.90% interest only |
Additional Terms | No prepayment penalty. No yield maintenance. Non-recourse. |
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