Bridge
Posted 5h agoBridge loan on industrial in Sacramento
$480,000
Location
Sacramento, CA 95814
Target rate
10.96%
Term
18 mo
Property type
Industrial
Property & underwriting
- Occupancy
- Vacant
- Units
- 12
- Lien position
- First lien
- As-is value
- $732,000
- LTV (as-is)
- 65.6%
- Purchase price
- $678,000
- After-repair value
- $850,000
- Loan-to-ARV
- 56.5%
- Rehab budget
- $54,000
- Exit strategy
- Lease-up then refinance
- Borrower experience
- 15+ deals completed
- Credit score range
- 750-799
- Borrowing entity
- Limited Partnership
- Funding timeline
- 45-60 days
- Additional collateral
- Industrial at Sacramento, CA
Use of funds
Bridge to permanent financing
Deal summary
Cash-out for next acquisition on a industrial in Sacramento, CA. Borrower is seeking $480,000 at up to 10.96% for 18 months. Lease-up then refinance.