Condo inventory loan for 9 newly-built, unsold condos out of 44 total

Finance Amount: $7,700,000


Closed 2 weeks from submission of initial package. 8.5% rate, 1% fee for six month term, four 90-day extensions on outstanding balance for 1/2% each, 3-month minimum interest
Location: Santa Clara, CA
Deal Type: Value Add Financing
Property Type: Condo
Year: July' 2019