First Capital Trust Deeds secured an $8,250,000 bridge-to-sale loan for a recently completed high-end home located in the Bird Streets of Los Angeles. The Property is a 6-bedroom 8 bath home with 360-degree views of the Los Angeles basin.
The borrower needed to refinance the high interested construction loan that was coming due but was not able to refinance with a conventional lender since the property was listed on the market.
FCTD partnered with an institutional capital provider who was able to accept a shorter duration, but also able to provide a lower overall rate to the borrower. This funding gave the borrower the rate desired and time required to sell the high-end home.
First Capital has partnered with the institutional capital provider on a programmatic basis and is currently working on other bridge-to-sale refinances of completed ground up and luxury residential construction projects in similar scenarios. Contact us to discuss your bridge loan and how we can help.