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$4.94MM Pre-development Loan in Bel Air for Entitlements and Permits

  • Property is a 5,867 SF single family residence sitting on a 3.53 acre lot with a private pool and tennis court in Bel Air
  • 65% LTV of the current as-is value of the property before any entitlements or permits were approved
  • 12 month loan term secured by 1st DOT and a personal guaranty
  • Personal guarantor and president of the borrower sits on the real estate commission for the city of Los Angeles
  • Cash flows from tenant with a lease through December 2019