Lightning Execution to 78% Leverage

A borrower brought us a plan to revitalize an iconic mid-century modern home in Brentwood. The plan involved luxury home building, hillside construction and slope stabilization – not our favorite combination of factors. Based on the condition of the property and challenges of the site, the borrower was able to obtain a substantial price reduction conditioned upon a closing within 4 business days. He presented us with a compelling case to do a deal we might otherwise pass on. But there’s a first for everything and this particular property and repeat borrower won us over. We were able to provide a loan of $1.77 Million (78% of cost) for a 6-month term. And we closed only a few days after the buyer and seller agreed on the final price.

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