Location: El Dorado Hills, CA
Loan Amount: $3,000,000
Purpose: Arriba Capital has recently closed a three-million-dollar construction loan for a 32,000 square-foot industrial/warehouse property located in El Dorado Hills, CA. The property, which was partially completed at the time of closing, will be occupied by the owners growing plumbing company. The new loan will be used to complete the necessary tenant improvements and fund the ground-up construction of a second building. El Dorado Hills is developing area located about 23 miles east of Sacramento’s Central Business District.
The loan, leveraged to 90% of total project cost, included 9-months of interest only payments which converts to a 25-year fully amortized loan upon completion of construction.