Beverly Hills Estate Cashout & High End SFR Purchase

 In RECENT TRANSACTIONS

 

Lone Oak Fund, LLC just funded two first trust deeds for a combined loan amount of $10,840,000, priced at 7.90% interest only. LOF provided cash out on the famous Beverly Hills estate to enable the purchase of a high-end Beverly Hills SFR. The borrower plans to sell the Estate, which is currently listed for $23,000,000, and rehab the new purchase.

Lone Oak provided 60% LTC on the purchase, and approximately 60% LTV on the cashout; a Junior lender brought in an additional 10% on the cashout, for a CLTV of 70%. The borrower was given a 6 month extension option on both loans at 1 point and 8.30% interest only.

 

 

 

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