CASE STUDY | PROPERTY

 

$7.5 Million "Cash Out" on Entitled Land | Los Angeles, CA

To Acquire Additional Investment Property 

 

 

 

 

 

 

 

Lending Challenge:

  • Client offered vacant entitled land (approved for Hampton Inn & Suites) as security for "cash out" to purchase an additional property.

 

  • Client required $7,500,000 additional cash to complete the acquisition but did not have the cash available.

 

  • Client needed the $7,500,000 cash in 20 days to close the acquisition in 21 days.

 

  • The vacant entitled land was valued at $22,000,000.

 

Testa Capital Group Solution:

 

  • Visited the vacant entitled land and met the client the next day.

 

  • Issued a loan term sheet that day.

 

  • Completed and signed loan docs in 18 days.

 

  • Funded $7,500,000 on day 20 and completed closing the escrow on time.

 

  • Due to successful performance, client had Testa Capital Group finance additional properties in his portfolio.

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Closed Loans

Contact 

 

Testa Capital Group

620 Newport Center Drive

Suite 1100

Newport Beach, CA 92660

t: 888.724.7925

f: 1.888.724.7925

info@testacapitalgroup.com

Licensing

 

Testa Capital Group

Real Estate Brokerage

Licensed by the

California Department

of Real Estate

DRE # 01790365

NMLS # 328319

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