Multifamily Properties

Corona, CA

  • Loan Amount: 15,000,000
  • Property Type: Multifamily
  • Producer(s): Carl W. Fuller

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Carl Fuller completed the $14,000,000 construction loan on this 125 unit apartment community in Corona California.  The loan was indexed at an aggressive spread over Libor with a term of 18 months. The loan was funded by a local California bank.  The $15,000,000 take out financing was also underwritten by the Alison Company with a correspondent life company.  The rate and terms were locked in advance of the funding with aggressive hurdles to achieve funding prior to being fully stabilized.