| Property: | 3 Multi-Family Property Portfolio |
| Location: | San Diego, CA |
| Description: | The portfolio consisted of three recently renovated multi-family communities known as Courtyard on 68th in San Diego, City Terraces in Escondido, and Hillside Terrace in Vista, CA which have a combined total of 113 units. The remodeled apartment homes feature striking finishes, stainless-steel appliances, and abundant storage. All three properties benefit from their superior proximity to the finest dining, shopping and events that San Diego has to offer. |
| Loan Type: | Refinance Bridge Loan |
| Lender: | Southern California Based Community Bank |
Client Benefits:
- Non-recourse
- 3-year fixed rate loan with 24 months of IO payments
- Financing includes two, one-year extension options
- Enhanced borrower’s flexibility by structuring a sliding scale prepayment penalty during the first two years only of the loan