$8,600,000 Multifamily Bridge Loan

We are pleased to announce the closing of a $8,600,000 bridge loan which will allow the owners of a newly completed multifamily project in La Jolla to stabilize the asset.  

Beachrock has successfully closed the $8,600,000 loan with a private lender which will be used to stabilize the asset. 

Beachrock able to secure a lender that was able to lend on the property prior to occupancy, based on proforma operations, and a strong location in the Village of La Jolla.  The Lender was able to accommodate a complex ownership structure and the transitional nature of the asset, while providing a high advance rate based on intrinsic value of the property.  

BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION