representative financings

  • $16,050,000

    Grocery store refinance
    40% LTV, 2.4 DCR

    Two national chain grocery stores in prime Los Angeles locations with strong sales. Loan terms included a 67 basis point spread over the ten-year treasury, yield maintenance after a three-year lock-out, and a seven month free rate lock. No lender fee.

  • $74,000,000

    Office building refinance
    60% LTV, 1.70 DCR

    Aggressively priced 5 year floating rate LIBOR facility. At borrower's request a competitive bid was conducted amongst interested capital providers. Cutting edge terms included no reserves, customization of the recourse carve-outs, limitation of lender's approval rights, and borrower friendly provisions in the event of non-monetary default.

  • $15,000,000

    Retail/ mixed use Letter of Credit
    100% of cost, 65% LTV, 1% interest rate

    Structured acquisition financing to purchase a 4.5 acre in-fill site with an effective 1% annual interest rate. Existing improvements were functionally obsolete and seller desired to remain in occupancy until relocation to new facility. Our customer took title to property and gave seller a Letter of Credit, to be cashed upon earlier of 2 years or when seller vacates property. The LC fee was 1% per year.

  • $9,000,000

    Condo conversion
    Cash-out refinance, 78% LTV

    High-leveraged second mortgages for three in-process condo conversion projects. All were nearly completed conversion in San Diego, CA, totaling 216 units. The conversions were 75% completed at the time of funding with 40% presales. The loans were approved in one day and closed within two weeks. Proceeds were used to comply with first mortgage lender's liquidity covenant.

$ 5,400,000 Unanchored Retail Las Vegas, NV
$ 1,900,000 Self Storage Los Angeles, CA
$22,000,000 Unentitled Land Santa Paula, CA
$11,000,000 Homebuilding Revolver Orlando, FL
$ 8,000,000 Anchored Retail Jacksonville, FL
$15,300,000 Office building Charlotte, NC
$13,500,000 Anchored Retail Eau Claire, WI