Santa Barbara Cross By Justyna Fatyga August 29, 2018 In RECENT TRANSACTIONS Santa Barbara Cross2018-08-292018-08-29https://www.loneoakfund.com/wp-content/uploads/2018/04/lone-oak-fund-logo.pngLone Oak Fundhttps://loneoakfund.com/wp-content/uploads/2018/08/2018-06-25-22.45.30.jpg200px200px 1 Loan Amount $2,000,000 Transaction Acquisition and Cash Out Refinance Collateral An ocean-front SFR cross collateralized with an apartment building Location Santa Barbara, California Purpose of Loan To acquire the investment SFR with 90% financing Exit Strategy Refinance with permanent financing Loan Term 12 months Interest Rate 7.50% interest only Origination Fee 1.00 point Additional Terms No prepayment penalty. No yield maintenance. Non-recourse. Recent Posts$21,000,000 – Newly Constructed Apartment Building$11,400,000 – Newly Constructed Apartment Building$6,000,000 Beachfront SFR
