The collateral for this loan is a two-story commercial office building measuring 5,870 sq. ft., situated on a spacious 10,500 sq. ft. lot with ample parking. The property is conveniently located in Del Rey Oaks, adjacent to Monterey, and just a 10 to 15 minute drive from Carmel, California.
An appraisal was completed and valued the property at $1.75 million dollars.
With a loan-to-value of 65%, this 1st Trust Deed loan is a favorable option for Crescent Lenders, especially considering the borrower's 30 years of experience in the cannabis business and possession of all state and city licensing permits for cannabis retail sales.
Furthermore, there is a 2nd Trust Deed for $335,000 from a different lender behind our new 1st Trust Deed, adding to the strong equity position of this private money loan.
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.
Maybe you need a bridge loan for an investment property in Carmel-by-the-Sea or would like to refinance a private money loan for a motel you own in the Big Sur area, whatever your circumstance, we’re ready to show why we are your premier California hard money lender.
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Los Angeles, California