$1,800,000 Acquisition Loan

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July 22, 2022

Morro Bay, CA – Our borrowers came to us for quick financing to complete a 1031 exchange with a tight timetable. The subject property is a beautifully located waterfront 3-unit, income-producing property with an adjacent marina that provides steady income for its’ investors. The transaction required a complicated review and approval of a water lease granted by the city of Morro Bay which could have threatened a timely closing. Our dedicated team completed the transaction, including the final signature from the City’s Mayor, on schedule.

Closing Highlights

  • 53% Loan to Value
  • Required City Approval
  • Unique Waterfront Property

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