
RANCHO CUCAMONGA, CA
$2,200,000
Retail / Construction
Mezzanine Financing
Rancho Cucamonga, CA
– Vacant Chinese restaurant
– Borrower planned to demolish the existing structure and build two new retail buildings totaling 15,555 square feet
– Project was 65% pre-leased prior to close
– 65% LTC senior bank construction financing
– Borrower wanted to preserve liquidity for other projects but didn’t want to bring in a partner
– Borrower pledged their ownership in the subject property and another property they owned to reduce their cash equity in the deal
– 91% LTC and 67% LTV