$7,500,000 Oakland Industrial Purchase
Lone Oak Fund provided a $7,500,000 first trust deed towards the $15,000,000 purchase of a value-add industrial building in Oakland, California. The 277,000 square foot property is on 5.0 acres of land in a prime industrial area. The 12-month Loan is priced at 7.90% interest only and 1.50 points. There is no prepayment penalty and no personal guaranty. The mortgage broker earned 1.0 point on the transaction.