$3,300,000 Commercial Loan in Mountain View, CA
Loan Amount: $3,300,000
Type: Commercial Loan
Term: 12 months
The borrowers are brothers in the medical and IT fields who invested in a commercial property to lease & rent out. First Bridge Lending refinanced the two-story mixed-use property with retail spaces on the first floor and residential space on the second floor located in downtown Mountain View, CA. The borrowers purchased the property in 2014 for $3,675,000 and invested $250,000 in upgrades. The property is fully occupied with a 3-5-year NNN leases with annual increases.
The loan amount totaled $3,300,000 at 53% LTV for a 12-month term. First Bridge Lending originator Christopher Carey facilitated this deal and helped the client secure funding for their refinance on their commercial property.
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Over 2,000 loans totaling more than $1 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
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