$600,000 Commercial Loan in North Highlands, CA
Loan Amount: $600,000
Type: Commercial Loan
Term: 24 months
The borrower is a full-time real estate investor with some commercial experience who was looking to purchase a commercial property in the North Highlands neighborhood of Sacramento, CA. First Bridge Lending provided a short-term loan for the investor to acquire the subject property, which is a retail building at 70% occupancy that features a variety of small stores. The borrower planned to invest $100,000 in renovations to improve the property and then keep it as part of their diversified rental portfolio.
The loan amount totaled $600,000 at 24% LTPP for a 24-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding to purchase the retail property.
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Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
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