Cash-Out Refinance on Storage Facility & SFR
Lone Oak Fund provided $3,800,000 in cash out financing on a storage facility and a high-end rental home in Northern California. The Borrower recently purchased both properties with cash and came to Lone Oak to recoup his funds. The storage facility is owner-user and the estate is a rental property. The Loan is priced at 7.90% interest for 12 months. The Broker earned a $57,000 fee on this transaction.