Refinance of Adjoining Custom SFRs


Lone Oak Fund, LLC provided a $3,100,000 loan to the owner of 2 high-end, custom built SFRs in a prime neighborhood in the San Fernando Valley.  Lone Oak refinanced the properties at 60% LTV. The 12 month loan was priced at 7.90% interest only for the first 6 months, 8.30% for the last 6 months, and 1.50 points.  Borrower was also given a 6 month extension option at 8.60% and 1.00 point.  Borrower will use the funds to pay off existing loans as well as invest in a new project.

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