» $7.3 Million - Industrial Building - Fullerton, CA
Posted by Loan Closed
Located in Orange County, our borrower operated their printing business out of the property for over 20 years until recently retiring. After placing the property for sale or lease they received numerous offers above the appraised value but preferred to find a suitable long-term tenant and benefit from monthly cash flow into their retirement. Avatar was able to provide the capital needed to pay off the current debt, allowing the Borrower time to find a tenant for a lease or sell the property.
- Loan Amount: $7,240,000
- Broker's Referral Fee: $217,000
- LTV: 70%
- Interest Rate: 8.99% variable
- Term: 12 months