$3,300,000 Commercial Loan in St. Helena, CA
Loan Amount: $3,300,000
Type: Commercial Loan
Term: 12 months
The borrower inherited the multifamily residential property they have managed for years. First Bridge Lending provided a refinance allowing the borrower to buy out the other owners. A property management company was hired to manage the units as the borrower has retired. The property is located on the edge of downtown St. Helena, CA and the market rents are expected to be $34,500/month.
The loan amount totaled $3,300,000 at 54% LTV for a 12-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding for their multifamily residential 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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