$1,075,000 Commercial Loan in Corte Madera, CA
Loan Amount: $1,075,000
Type: Commercial Loan
Term: 12 months
The borrower is a physician who has owned the subject property just west of the 101 in Marin County since 2009. The property is zoned C3– Highway Commercial and was purchased for $1,495,000 in 2009. They have done $550,000 in improvements since then bringing the fee appraised value of the property to $3,500,000. Owner occupies 60% of the space with their medical offices while the remaining space is leased for the next 4 years to another medical office. First Bridge Lending was able to provide financing to pay off the borrower’s matured bank loan that was unable to be renewed.
The loan amount totaled $1,075,000 at 31% LTV for a 12-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding for their Commercial refinance.
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