Featured Loan

Bridge Loan for Completed Development

Loan Details

Loan Amount:  $13,000,000

Loan-To-Value:  50% LTV

Term:  24-Month

Situation & Challenge

A developer needed to pay off the construction and mezzanine loans on the completed project by getting a new lower-cost private money bridge loan for 18-24 months.   

The challenge was that the loan needed to have lower costs and interest rates, in order to meet the expected ROI on the townhouse project.

Solution & Result

First Capital Trust Deeds worked with a Los Angeles-based fund to provide a 24-month loan, setting aside 6-months of payments in an interest reserve account, and providing carveouts when units in the building sold. 

The loan met the borrower’s criteria and closed in less than 21 days. 

Do you have a similar financing scenario?
Inquire about your financing options with FCTD.