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.
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.
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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