Recent Commercial Mortgage Closings on California Commercial Properties:

$6.2 million 7.5% 3 year 1st TD
San Diego – Mission Valley
62,768 s.f. class B office building
62% loan to value
 
$906,000 9.5% 3 year 8.5% 1st TD
Lodi CA
47 acre Merlo/Chardonnay grape orchard
50% loan to value
 
$3.6 million 9.5% 3 year 1st TD
San Diego
Construction loan on a Automated Car Wash and 7/11 store
54% loan to value
 
$650,000 8.5% 3 year 1st TD
Tracy, CA
4,800 s.f. single family rental with separate guest house
65% loan to value
 
$2.5 million 8.5% 3 year 1st TD
Mojave, CA
46,000 Aircraft Hangar on leased land
60% loan to value

$325,000 8.5% 3 year 1st TD
Barstow, CA
22 unit apartment building on “the wrong side of the tracks”
40% loan to estimated value with no appraisal
 
$300,000 8.5% 1st TD Bridge Loan
Solvang, CA
3,594 s.f. Single Family Residence rental
30% loan to value with no appraisal.  Closed in 10 days.
 
$5.7 million 9.5% 1st TD
Pico Rivera, CA
35,000 s.f. Nightclub/Restaurant with legal issues
60% loan to value

$435,000 8.5% 3 year 1st TD
Los Angeles, CA
1,300 s.f. preschool property
60% loan to value

$400,000 9.5% 3 year 1st TD
Carpinteria, CA
2 single family rentals on 2 parcels
50% loan to value – borrower had good credit but minimal reported income

$425,000 8.5% 3 year 1st TD
San Francisco neighborhood market
2,969 s.f. mixed use building
50% loan to value

$240,000 7.5% 2 year 1st TD Purchase Money Bridge Loan
2,400 s.f. residential rental
40% loan to value

$2,304,000 8.5% 3 year 1st TD
San Jose Shell Station mini mart & automated car wash
Construction loan and 3 year mini perm
Experienced operator with good credit and cash flow
60% loan to value

$650,000 8.5% 3 year 1st TD
Tracy CA Single Family residence and guest house
5,100 s.f. on a 2 ½ acre development parcel  65% loan to value

$3.325,000 8.5% 3 year 1st TD
Nevada City, CA 71 unit Hotel and Senior Living property
Strong operator, but remote location did not attract an institutional lender.