This transaction was a straightforward Rate & Term Refinance on a well-located, mixed-use property in Manhattan Beach. Their existing bank loan had matured, and they required a responsive bridge loan to take out the bank as they repositioned the asset. Strong, capable sponsors, good location in an excellent South Bay submarket, sub-60% leverage to existing value…YES. Closed in two weeks.
Sometimes, it’s just that simple.
Capital at the Speed of Business, provided to solid sponsors and their terrific projects in major markets throughout The West!