Case Study – Ultra Luxury Residential Construction Loan (Beverly Hills)

OPPORTUNITY: Request for a residential construction loan to construct a spec ultra luxury 5 BDR 7.4 BATH (6BDR 11BATH) home in Trousdale Estates.

BORROWER: Encore CRE Developer

PROFESSION: Residential Construction Development NET WORTH: Ultra High

SOLUTION: Construction Loan

LOAN AMOUNT: $12,000,000

CONSTRUCTION COSTS: $12,110,584

VALUE: $24,500,00 (‘subject to completion’) LTC: 60% LTV: 49%

SQ FT: 10,148 (12,456)

COST PER SQ FT: $1,972/$1,193

ASKING SALES PRICE: $39,000,000

CLOSED

If you have a similar case, or question, please e-mail me on craig.isaac@bancofcal.com

“You will get all you want in life, if you help other people get what they want”
– Zig Ziglar