At a Glance

Santa Monica, Ca

Property Type Multifamily
Size 5 Units
Security 1st Trust Deed
Loan $1,885,000
Value $2,900,000
LTV 65%
Term 3 months

The subject property is a 5-unit multifamily property in Santa Monica near Silicon Beach.  The Borrower, a French citizen with no US income and no US Social Security Number, had the property in contract for $2,900,000.  Hamilton Ridge’s Fund came in and provided a fast $1,885,000 purchase loan.  The loan was paid off quickly when the Borrower was able to sell other foreign real estate assets in his portfolio.