$2,800,000 Bridge Loan on a 71% Occupied Southern California Mixed-Use Asset

Transaction Description:  Shahin Yazdi placed the 70% of purchase debt for a distressed Office and Industrial property in Southern California. The five year term is priced at Prime plus 50 basis-points with a 4.25% floor, interest only for the first 18 months. The loan will then amortize over 25 years negating the need for take-out financing upon stabilization.

Challenge: The property was 71% occupied at close and maintained a 61% historical economic occupancy. The Borrower has limited commercial real estate experience. This acquisition had a short escrow period with numerous hurdles to overcome.

Solution: Upside potential and pro-forma garnered significant interest from the capital markets. As a prior REO, the asset was distressed over mis-mismanagement. A well-established 3rd party property management company was retained to handle daily operations and leasing. All third party reports were rushed and provided the lender with all due diligence materials presented within 72 hours of their request.