Orange County Cross Collateralization
Lone Oak Fund funded a $5,100,000 first trust deed cross-collateralizing a high-end home in Irvine and a 40-unit apartment complex in Anaheim. The 12-month loan is priced at 7.90% interest-only with no prepayment penalty. The Borrower, a foreign national with investments worldwide, leveraged the properties at 60% LTV to pull out cash to finance a business investment in Mexico.
This transaction was brought to Lone Oak by a broker working directly with the Borrower. The Broker collected a $102,000 commission at the close of escrow.