$2,200,000 Ground Up Construction Loan in Newport Beach

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$2,200,000 Ground Up Construction Loan in Newport Beach

First Capital Trust Deeds closed a $2,200,000 acquisition and construction private money loan for a property located near the Balboa Island ferry and within walking distance to the bayfront. The ground-up construction loan in Newport Beach provided 77% loan-to-value (LTV) on the purchase and 100% loan-to-cost (LTC) for the rebuild.

FCTD worked with a seasoned local developer from the beginning of the acquisition and represented the developer through the purchase negotiation. FCTD brought their experience and local expertise to the purchase, which allowed flexibility on construction financing for the client.

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