Office Refinance
Long Beach, CA
The subject property is an 11,300 square foot medical office building located in downtown Long Beach.
The borrower owned the property free and clear and needed $1,550,000 cash out to purchase inventory for his business. The transaction closed in under two weeks and the borrower was able to refinance into a long term bank loan within 6 months.
Property:
Office
Security:
1st Trust Deed
Loan:
$1,550,000
Value:
$3,500,000
LTV:
44%
Term:
6 months
