San Diego, CA – Office Bridge Loan - Image 1San Diego, CA – Office Bridge Loan - Image 2San Diego, CA – Office Bridge Loan - Image 3

Office Bridge Loan

San Diego, CA

Property Type Office
Size 3,061 square feet
Security 1st Trust Deed
Loan $390,000
Value $857,000
LTV 45%
Term 24 months

The subject property is an office condo located in The El Cortez building, a historic high-rise in downtown San Diego.  The condo also includes a 1,272 square foot balcony with views of downtown.

The borrower, an existing sub-leaser of the office, decided to purchase the office condo and leaseback part of the space to the seller.  The new borrower requested a 2 year bridge loan until he can qualify for a conventional refinance.

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