$6,000,000 San Carlos Retail Acquisition
Lone Oak Fund financed the acquisition of three separate retail properties in Downtown San Carlos. The investor used Lone Oak Fund’s fast close to complete a 1031 exchange. The $6,000,000 first trust deed is priced at 7.90% interest only for 12 months and 1.0 point. No prepayment penalty & non-recourse. The borrower will exit the bridge loan with conventional financing.