Construction: Motel Renovation Northern California
Loan Amount * $800,000 Collateral Valuation: * 3,300,000 Term * 12 months, First Lien, IO Rate * 9.50% Opportunity to renovate during COVID shutdown makes occupancy difficult for hospitality industry. Cost overruns on a major remodel caused our borrowers to need...
Understanding the Letter of Intent in Commercial Real Estate
In commercial real estate, a letter of intent is used to summarize the terms of a tentative agreement to purchase a particular property. This may be drawn up by a prospective buyer or, in some cases, by a tenant applicant to present an offer on a real estate property....
Commercial Real Estate Outlook for 2020
Commercial lending on the west coast is and will remain competitive especially in California (the largest state serviced by ReProp Financial). Due to the competition in California, ReProp Financial tries to focus on niche locations where there is less competition. For...
