First Capital Trust Deeds closed a private money first and second bridge loan combination for the buyer of these two properties in Los Angeles. The buyer was able to close quickly on the properties that need upgrades made to increase lease rates before obtaining long-term financing in the coming twelve months. Two long-time trust deed investors of FCTD funded the first and second mortgages.
Private Money Acquisition Loan Details
Loan Amount: $1,033,500
Loan-To-Value: 65% CLTV
Term: 12 Months