$1,290,000 Commercial Loan in Rancho Cordova, CA
Loan Amount: $1,290,000
Type: Commercial Loan
Term: 18 months
The borrower owns an auto business that operates in an industrial warehouse building. The landlord of the building has offered to sell the property to the borrower off market. First Bridge Lending provided them with financing to purchase the 10,000 sq ft single-story metal over steel frame warehouse building. There are two interior buildouts which each include a small office and restroom area. The balance of the space is improved as warehouse with 18’ clear heights. The building includes a wet fire suppression system and is equipped with five 12’ x 14’ metal overhead roll-up doors. A Phase 1 was performed and reported no recognized environmental concerns.
The loan amount totaled $1,290,000 at 60% LTPP for an 18-month term. First Bridge Lending originator Brian Haines facilitated this deal and helped the client secure financing for their commercial property purchase.
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Over 3,500 loans totaling more than $2 billion closed since 2012
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