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Redwood Mortgage Arranges Trio of Differing Loans in California

12/12/16

Redwood Mortgage recently arranged three loans totaling $4.8 mil for commercial and residential investment property in California. The loans were secured by real estate assets in the East Bay and Silicon Valley in Northern California, and in West Los Angeles in Southern California.

The three loans were as follows:

• $1.96 mil to facilitate a refinance, which helped the borrower restructure corporate debt on a commercial warehouse and retail property in the San Francisco East Bay. A cash-out component of the refinance enabled the borrower to pay down a bank unsecured line of credit that was coming due as well. The Redwood loan was structured at 42% loan-to-value (LTV) on a two-year term, interest-only.

• $2.2 mil in refi money on a small retail property in West Los Angeles. The loan came in at 65% LTV with no prepayment penalty. The borrower needed a rate and term refinance to pay off a maturing seller carry-back financing note. This auto dealership property is located in a popular, high-traffic commercial corridor.

• $634k in acquisition money on a Silicon Valley Peninsula rental condominium asset. This was a time-constrained transaction after the buyer’s bank declined to do the loan. Redwood’s loan, at 65% LTV, was based on the borrower’s financial and tax-return information. Once the property is stabilized, the owner plans a refinance to pay off the Redwood Mortgage note.






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