Dana Point, CA – $11,300,000

Quick Close with Cross-Collateralization Program

This client was referred to us for bridge loan financing because his bank couldn’t close his loan in under 10 days. The sales price was $11,300,000, but the property was originally listed for nearly $14,000,000. The developer selling the home was facing foreclosure after making several significant price reductions and paying costly penalties for loan extensions. Our client owned two other properties valued between $8-9 million each, with very little debt on them.

This high-net-worth client also had substantial investments in stocks and did not want to incur short-term or long-term capital gains by selling them. The Bridge Loans, Inc. structured a loan that cross-collateralized all three properties, allowing him to close the escrow without putting any money down. The client eventually sold his other two properties at peak market value and paid off our loan within 3 months.