Location: Ventura, CA
Loan Amount: $3,850,000
Loan to Value: 65%
Loan Type: Refinance
Arriba Capital successfully closed a $3.85mm loan on a 35-unit SRO apartment complex in Ventura, CA. The property is located near the downtown district of Ventura and is within walking distance to the beautiful Ventura Pier.
The new loan proceeds were used to refinance the previous construction loan into a 65% LTV, 15 year term, 30 year amortization permanent loan in the mid-3's with no prepayment penalty.