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HELVETICA FUNDED LOAN | $1 MILLION SECURED BY THREE LUXURY RESIDENTIAL PROPERTIES IN LA JOLLA, CA

Posted by Chad Mestler on Feb 4, 2017 4:24:42 PM

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LA JOLLA, CA (November 30, 2016) - The Helvetica Group provided a low loan-to-value bridge loan secured by one junior trust deed on three luxury single family homes located in prestigious neighborhoods in La Jolla, CA.  The homes were non-owner occupied investment properties and were in excellent locations.  The loan was to a sucessful tech entrepreneur and the proceeds were to be used to provide venture debt to an early stage biotech company. 

Property #1 (above) was a trophy property on the coveted La Jolla Farms Rd. just above the trail to Blacks Beach, a favorite surf spot for local surfers and close to UCSD. The 10,000 SF home valued at almost $10 million was frequently hired out as vacation rental. 
 
Property #2 (below) was located just in front of La Jolla Shores. 
 
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And Property #3 was located just 1 block from the beach at La Jolla Shores. This home was also leased out as a vacation rental.  All 3 homes were held for investment and rental income. 

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Deal Highlights:

  • Luxury investment properties
  • Low 55% loan to value
  • Cash out for venture capital
  • Bridge loan
  • Cross collateral
  • Jumbo residential loan
  • No tax returns
  • Quick close

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Topics: Deals, Loans