Industrial Refinance in East Los Angeles 32 day close
Financial Compound worked with a closely held portfolio lender to meet the borrower’s closing deadline to close a $9.8 million industrial mixed use refinancing in East Los Angeles in 32 days.
We navigated several obstacles, including significant research to prove out the borrower’s top-of-market rents for this newer construction, a portion of which was occupied by the borrower’s business enterprise; as well as working with the existing lender who had recently filed a foreclosure action.
Commercial Mortgage Broker Financial Compound made a market for this transaction, identifying alternative financial structures to obtain the proceeds and interest rate desired by the borrower.
Other terms included 80% LTV, 10 year fixed rate, 5% interest rate, 25 year amortization, 1% lender fee.