Acquisition of Mixed-Use Retail Building

 In RECENT TRANSACTIONS

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Lone Oak Fund, LLC provided $800,000 in acquisition financing on a 4,000 square foot mixed-use retail building in Pasadena.  Borrower needed a quick close to beat out the competition and plans to refinance and pay off Lone Oak’s 1st Trust Deed with a traditional bank loan.

The 6 month, 50% LTV loan was priced at only 8.30% interest only, with 1.25 points origination fee and a 6 month extension option at 8.90% interest only, and 1.00 point.  As always, there is no prepayment penalty.

 

 

 

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