Wilmington Mid-Construction

LOAN: INVESTMENT REFINANCE | COMPLETED VALUE: $6,700,000 | LOAN AMOUNT: $3,924,697 | RATE: 8.5%

DESCRIPTION: This is a mid-construction project to finish 27 affordable units in Wilmington, CA. The project is 90% complete and required minimal funds for the finishing touches. There is a master contract in place once the asset is completed. This loan included interest reserves and no out of pocket funds at closing.