Just finished underwriting and funding a $500k second TD on two small apartment complexes in West Los Angeles.... The deal features were the following:
1. Loan to Value was 72% 2. Rate: 13.000% 3. DCR: 1.19 4. Fully Occupied 5. Personal Guarantee required 6. Two year term 7. No Pre-pay 8. Loan closed in 30 days, BUT delay was caused by borrower vacation, etc. 9. Junior to two first liens of approximately $2mm each 10. Borrowers credit average
I am very interested in looking at:
1. SECOND TD SCENARIOS up to $1mm
Medical Land Commercial Storage Facilities
2. NOTE PURCHASES
3. DISTRESSED REAL ESTATE PURCHASES UP TO $5MM
Please call Massey or write with questions and scenarios. 949-607-8808 |
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