Ground-up Construction
Los Altos, CA
The subject property is a modern-style new construction home in Los Altos, CA. The borrower, a local development fund, approached Hamilton Ridge to initially purchase the vacant lot.
After the developer obtained approvals for the new home, Hamilton Ridge rolled the acquisition loan into a $2,500,000 construction loan. The home sold for $4,800,000.
Property:
Luxury Home Construction
Security:
1st Trust Deed
Loan:
$2,500,000
Value:
$4,800,000
LTV:
52%
Term:
12 months
