$5,700,000 Cash-Out Refinance of Apartment Building
An experienced Bay Area real estate investor utilized Lone Oak Fund’s fast close to pull cash out of a fully occupied 30-unit apartment building in San Jose, California. The proceeds were used to acquire another investment property in an exchange. The 3-month Loan is priced at 7.90% interest only and 0.50 point. Exit strategy is a conventional bank loan.