$4,400,000 Cash Out Refinance Loan in Costa Mesa, CA
Loan Amount: $4,400,000
Type: Cash Out Refinance
Term: 6 months
The borrower purchased a 23-unit multifamily investment property in 1994 and was looking to cash out in order to use the proceeds for a development deal and to buy out an equity partner. With a cash out refinance loan from First Bridge Lending, the borrower received the required short-term capital to move forward with their development project and restructure their entity ownership.
The loan amount totaled $4,400,000 at 55% LTV for a 6-month term. First Bridge Lending agent Adam Nicholas facilitated this deal and helped the client secure capital for their development project with no cash out of pocket.
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Over 2,000 loans totaling more than $1 billion closed since 2012
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