Mortgage lead for Commercial loan in Coachella, CA, 92236

Loan Request for Commercial loan in Coachella, CA, 92236

Request #3721627 by Lender

Date Posted

3/28/2025 2:29:21 PM

Property at

Coachella, CA, 92236, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$40,000,000

Amount of Existing Loans

$13,000,000

Loan Request

$18,000,000

LTV

45 %

Credit Rating

740-749

Net Worth

$1,000,000 - $4,000,000

Loan Purpose

Refinance and Construction

Purpose

This is a refi, with some additional funding requested for buildout-there are 9 buildings on the property, 6 of which are completed. Seeking $18M loan to pay off the existing lien holder ($13M) and construction funds to complete the buildout. Currently 6 of the 9 buildings are complete and all of the spaces are leased. The business has been operating for over 5 years and is profitable. They have a recent appraisal indicating a current value of $40M and a completed value of $60M.

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Loan Request for Commercial loan in Coachella, CA, 92236