Commercial: Rate and Term Refinance of Exotic Car Dealership, Costa Mesa CA

  • Loan Amount * $2,075,000

  • Collateral Valuation: * $4,300,000

  • Term * 18 months, First Lien, IO

  • Rate * 8.89%

Extension of current financing with refinance while finding a great buyer.

Our borrower is preparing to sell his real estate. The current tenant is an exotic car sales business. The specialty nature of the real estate means he expects a longer market exposure time before finding the right buyer. His current loan was maturing, and he asked ReProp for a rate and term financing option. Commercial real estate is our business. Our loan will be paid off when the property is sold.

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