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$1.5 Million Cash Needed in 48 Hours

98-Unit Apartment Community | Orange County, CA








Lending Challenge:


  • Client sold his 98-unit apartment community which was in escrow and due to close in 2 days on a 1031 exchange.


  • Client required $1,500,000 additional cash to complete the 1031 exchange but did not have the cash available.


  • Client needed the $1,500,000 cash in 2 days or the escrow would cancel.


  • The 98-unit apartment community was valued at $28,500,000 and had an existing $14,000,000 1st trust deed in place.


Testa Capital Group Solution:


  • Visited the 98-unit apartment community and met the client the same day.


  • Issued a loan term sheet the same day for a new $1,500,000 2nd trust deed loan.


  • Completed and signed loan docs on the morning of day 2.


  • Funded $1,500,000 on day 2 and completed same day special recording of the deed of trust, closing the escrow on time.


  • Due to successful performance, client had Testa Capital Group complete an additional $20+ million on several additional properties in his portfolio.

Modern Housing Complex
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