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Crescent Lenders Funds

$3M Bridge Loan on Single-Family Residence

Carmel-by-the-Sea, Monterey

About The Deal

The borrower needed a bridge loan to pay off a $4.0 million balance with their existing hard money lender. 

They made a payment of $1.0 million to bring the loan balance down to $3.0 million.

The subject property was a 3 bedroom, 3 bathroom 2,252 sq. ft. single-family residence with ocean views and only steps to the beach in Carmel-by-the-Sea, Monterey.  

Extensive improvements were made and the property was in escrow to be sold at a nice profit but there were several delays with PG&E connecting utilities from the street to the property.

The existing lender would not renew the private money loan which came due at the end of February, 2021.

The borrower is a CPA with strong financial capacity, excellent credit and is a well known repeat client of Crescent Lenders. 

With the borrower putting down $1.0 million to reduce the existing principal loan balance from $4.0 million to $3.0 million the loan-to-value was a strong 33% based on the pending sales price.

Single Family Home in Carmel-By-The-Sea
Carmel-by-the-Sea, Monterey
12 months
Single-Family Home
Exit Strategy
Sell the property

Looking for a Bridge Loan Near Carmel-by-the-Sea?

Crescent Lenders is a top rated private money lending company providing loans around The Monterey area.

We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.

If you've found a great investment property in Pebble Beach that needs some fixing up, or if you're looking for a rental property in Monterey and are unsure where to turn for private money lending, we at Crescent Lenders can help.

We are the premier private money lenders in California with a track record of success.

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Between $200k and $5 million dollars
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All types of investment properties considered, residential, commercial and industrial
Crescent Lenders

Suite #116, 999 Overland Ave

Los Angeles, California


Disclaimer: Crescent Lenders, DBA CrescentLenders.com ("CL") is a California licensed broker under California Bureau of Real Estate License No. #01792267. Regardless of this license, CL considers itself a “finder” for purposes of applicable laws and regulations (California Business & Professions Code § 10130, et. seq.).