Brief: Money360 Provides Multi-Million Dollar Bridge Loan for Southern California Real Estate

Money360, a commercial real estate marketplace lending platform, announced today that it has provided a $10.5 million bridge loan for a fully occupied, single-tenant suburban office complex in the Southern California coastal community of Signal Hill, California.

Gary Bechtel“This was an attractive investment for several reasons,” explained Money360 President Gary Bechtel. “First, this property is in a prime location. Secondly, the operator has an accomplished track record of success, and there is great potential to reuse the property in the event that the tenant vacates. Together, these factors create an attractive opportunity for us and our investors.”

Totaling 72,485 square feet, the 3.7-acre complex features three, three-story buildings connected by steel-framed pedestrian bridges in a campus-like setting that surrounds an attractive water feature. The complex has been fully built out for classroom and administrative office use and is currently leased by an established private university providing post-secondary education in pharmaceutical, nursing and clinical research studies. The $10.5 million bridge loan is fixed at 10.5% for 24 months, with a loan-to-value ratio of 67.4%.

The direct lender targets small- to mid-balance commercial real estate loans that cater to institutional and accredited retail investors, providing direct access to attractive fixed income investments secured with a first-priority lien against income-producing commercial real estate.



Sponsored Links by DQ Promote

 

 

Send this to a friend