$18,480,000 | Bascom

3 Multifamily Property Portfolio | San Diego, CA

The portfolio consisted of three recently renovated multifamily 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

Capital Provider

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