The borrower purchased a light industrial property in San Gabriel, California, which included both real estate and business assets, for a total of $2.5 million.
They made a down payment of 38%, while Crescent Lenders provided the remaining amount through a private money loan of $960,000, with $660,000 for the real estate portion and $300,000 for the business assets.
The borrower is a high net worth individual with a proven track record of operating multiple tow yards in Los Angeles County and Orange County, which has provided strong cash flow even during economic recessions.
Crescent Lenders recognized this as an excellent opportunity to provide a bridge loan for the acquisition.
Crescent Lenders is a top rated private money lending company providing loans around The Los Angeles area.
We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.
Whether you need a bridge loan to acquire a mixed-use property in the up-and-coming downtown area of Pomona or require financing to purchase a multi-family complex in the trendy neighborhood of North Hollywood, Crescent Lenders is here to help you with all your private money loan needs in these dynamic parts of Southern California.
Learn more about our Los Angeles bridge loan programs.
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Los Angeles, California