Recently Completed Transactions

Industrial Stand-alone Warehouse in Commerce, CA

Property details: 4,000 square foot warehouse, built in 1949 and maintained in good condition. Zoned M2 and currently tenant-occupied.
Description: Property was listed for sale at $511,000. Borrowers needed an immediate loan to finish the purchase of another property. Average credit with no mortgage delinquencies.
Value of property $450,000
Loan amount: $150,000
Loan terms: 10% rate, 3-year fixed with interest-only payments. 5 year balloon with year 4 and 5 adjustable at LIBOR plus a margin of 7.99%


Single-family Residence in Santa Clarita, CA

Property details: 6 bedroom, 4.5 bath. 4,508 square foot home built in 2004. Custom cabinets, travertine floors, granite counters. Located in the Tesoro PUD
Description: Non-owner occupied purchase loan, primary borrower is self-employed and unable to qualify for a conventional loan. Current mortgages all have excellent payment history.
Value of property $940,000
Loan amount: $510,000
Loan terms: 9.99% rate, 3-year fixed with interest-only payments. 5 year balloon with year 4 and 5 adjustable at LIBOR plus a margin of 7.99%


36-unit Apartment Building in Los Angeles, CA

Property details: 24 one bedroom, 9 two bedroom, three 3 bedroom units. Property condition is average for the area. Monthly gross rents exceed 35k per month.
Description: Current balance of 1st mortgage is 840k, combined LTV of 43%. Borrower needed to pay off an exisiting 2nd note that had come due. A+ credit and mortgage history.
Value of property $3,000,000
Loan amount: $450,000
Loan terms: 2nd trust deed. 11% rate, 3- year fixed with interest-only payments. 5 year balloon with year 4 and 5 adjustable at LIBOR plus a margin of 7.99%