Archive
Case Study – Spec RE Construction Loan (Prefab) (Redondo Beach)
OPPORTUNITY: Request for a residential construction loan to construct a spec prefab 4BDR 3.1BATH home in Redondo Beach.
BORROWER: Developer
PROFESSION: Residential Construction Development NET WORTH: Affluent
SOLUTION: Construction Loan
LOAN AMOUNT: $1,237,500
CONSTRUCTION COSTS: $963,828
VALUE: $1,650,000 (‘subject to completion’) LTC: 72% LTV: 75%
SQ FT: 2724
COST PER SQ FT: $454/$353
SALES PRICE: $1,850,000 (12/19)
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
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
Case Study – CRE Construction Loan (Long Beach)
OPPORTUNITY: Request for a commercial construction loan to renovate 80 units in 4 Class C apartment buildings in Long Beach.
BORROWER: Encore Developer
PROFESSION: Commercial Construction Development
SPONSOR/GUARANTOR: High Net Worth
SOLUTION: CRE Multi-Family Construction Loan
LOAN AMOUNT: $7,300,000
VALUE: $12,410,000 (‘stabilized’) LTC: 73% LTV: 59%
DSCR: 1.20x
If you have a similar case, or question, please e-mail Craig Isaac on craig.isaac@bancofcal.com
“It is your attitude, not your aptitude, that determines your altitude.” — Zig Ziglar”
– Zig Ziglar
Lendologist® 