| hotel |
$8 million refinance for a Comfort Inn located in Maryland. Experienced hotel operator, 70% LTV, 1.25 DCR (Robert).
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| residential |
$10 million refinance for partially completed spec house on Westside of Los Angeles. 58% LTV. Strong credit borrower with long track record in this product type and location. Existing lender desires takeout for portfolio concentration reasons unrelated to borrower or property. This can be structured as debt or equity (Robert).
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| apartment |
$3 million refinance for high end apartment building in Santa Monica, CA. 70% LTV, 1.25 DCR (Robert).
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| retail |
$6 million refinance for Kmart anchored shopping center in Ohio. 50% LTV, 1.7 DCR, 92% occupied, stable operating and occupancy history (Thomas).
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| land |
$9 million land loan for entitled, infill residential site in Colorado. This could also be structured as a $35 million condo construction loan. 50% LTV (Thomas).
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| residential |
$3 million JV equity for unleveraged acquisition fund to purchase foreclosed single family homes in southern CA. Borrower has track record, with the most recent fund showing a 30% unleveraged IRR. Friends and family have been the equity partners to-date (Robert).
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| office & retail |
$1.3 million refinance for small business in Burbank, CA. Refinance includes $300,000 in proceeds to convert unused industrial space into retail and additional parking (Thomas).
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