Construction Loans Temecula: $3,700,000 3-Story Mixed-Use Retail & Office Construction Financing to 67% of Cost

Scott Meredith Temecula Construction Financing Loans

Rate: WSJP+4.25%
Term: 18-month term with Two 6-month extensions
Amortization: IO
LTC: 67% LTC
Prepayment: 12-month minimum interest
Guarantee: Recourse

George Smith Partners arranged $3,700,000 in construction financing to develop 15,860 square feet of retail and office in Old Town Temecula, California. The developer plans to lease the ground and second floor with retail tenants and reserve the 3rd floor for office tenants. The challenges of the financing included the use of EB-5 equity in a spec development within a tertiary market. Our Sponsor desired financing without pre-leasing requirements to take advantage of the demand for this dynamic location during construction. Significant market interest from prospective tenants proved the thesis to the capital provider on a speculative basis.

Advisors

Related Financings

  • No related financings.

Don't Miss a Fact,
Sign Up for FINfacts!

FINfacts is a weekly newsletter highlighting recent financings and economic insights.

Subscribe Here