Reverse 1031 Exchange
Lone Oak Fund LLC financed the acquisition of an 81,282 square foot, single tenant retail building in Chino, California. The Borrower acquired the property for $7,350,000 through Auction.com via a Reverse 1031 Exchange. Lone Oak financed 50% of the Borrower’s purchase price.
The out-of-state investor was introduced to Lone Oak Fund through his mortgage broker. Due to the logistics of a Reverse 1031 Exchange, the Broker approached LOF requiring flexibility and a very fast close. Lone Oak was able to accommodate the buyer’s needs and close the Loan in less than 1 week.