$1,850,000 – Vacant Mixed-Use Building Purchase
- Belinda Pinto
- Sep 30, 2022
- 0 min read
Updated: Jan 9, 2024
​Loan Amount | ​$1,850,000 |
​Transaction | ​Acquisition |
​Collateral | 8,334 square foot mixed-use building on a 3,484 square foot lot |
​Location | ​Santa Barbara, California |
​Purpose of Loan | ​Purchase of mostly vacant mixed-use building |
​Exit Strategy | ​Permanent financing after leasing up vacant units |
​Long Term | ​12 Months with a 12 month option to extend |
​Rate | 9.90% interest only |
​Additional Terms | ​No prepayment penalty. No yield maintenance. Non-recourse. |
