Acquisition of Auto-Related Retail Buiding
Lone Oak Fund LLC provided financing for the acquisition of a 10,546 square foot auto-related retail building on a 20,090 square foot lot. The building is located in the Mid-City neighborhood of Los Angeles. The Borrower acquired the property for $4,500,000 with a $2,700,000 first trust deed from Lone Oak Fund. The 12-month loan is priced at 8.30% interest only and 2.0 points. There is no prepayment penalty.