$1,025,000 Multifamily Purchase Loan in Culver City, CA
+ 1031 Purchase Loan
+ Regional Bank Execution
+ 5-yr fixed / 30-yr term / 30-yr amortization
+ $250,000 Future Funding Loan Component
Sequoia Commercial Lending has recently closed the purchase loan for a 10-unit multifamily property located in Culver City, CA. The loan was sourced from a real estate sales agent representing the buyer. Our firm quickly gathered 5 different Regional Bank bids and secured the low-cost lender for the purchase loan. Sequoia was also tasked with building in a future funding loan component that allows for the borrower to re-approach the bank after six months for additional loan proceeds. The loan proceeds will be used to offset expenses for a soft-story retrofit as well as tenant relocation expenses and cap-ex repairs to the building.