Owner-User Purchase Loan - Conventional - Tustin, CA
+ 85% Loan-to-Value - ‘Conventional’
+ 1st TD: 10-year fixed / 20-year amortization
+ Prepay: 3, 2, 1, 0, 0
+ 3-year term loan for Tenant Improvements
Sequoia Commercial Lending is excited to announce the closing of an owner-occupied office building located in Tustin, CA. A real estate agent approached us to assist with finding a competitive loan solution for his client, a financial advisor. The client had received SBA loan bids from various lenders however upon analyzing the client’s tax returns, we determined that there was sufficient strength to approach the deal from a conventional stand-out (thus avoiding SBA loan fees to close of approximately 2.65%).
Our firm located a regional bank whom provided 85% Loan-to-Value for the purchase loan. The loan also includes a $100k term loan which is funding at close of escrow for tenant improvements. The bank does not require any fund disbursement or fund control for this additional capital, which is provided on a 3-year term with no prepayment penalty.
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