The sponsors acquired this Manhattan Beach tear down in summer of 2012. Financially sound and quite conservative, they paid over 65% cash toward the purchase price. At that time, demonstrating its program flexibility, Seattle Funding Group provided the acquisition financing and a construction financing commitment, subject to final approval of plans, specs, budget and permit.
Within this new ground-up construction loan, SFG also credited the Sponsors for the loan fees paid at the initial acquisition. Program flexibility and forward construction commitments coupled with the best rates in private money…three more reasons why SFG remains an innovative leader in the field.
Special thanks, once again, to Mickey Hedges with Coldwell Banker Previews. Mickey has long been our go-to source for market conditions, sales and current values on LA’s Westside and in its finest beach communities. SFG appreciates and highly recommends Mickey and the Team at Coldwell Banker Previews.