Loan #3184 – 24000 Potter Rd. Salinas, CA 90638
Property Address
24000 Potter Rd. Salinas, CA 90638
Loan Number: 3184
Appraised Value: $6,400,000.00
Purchase Price: $5,000,000.00
Loan Amount: $2,500,000.00
Loan Position: 1st
Interest: 10%
LTV (Loan to Value): 50% / 39%
Term: 48 Months
Specifics
This is a purchase transaction. Our client has great credit and will be paying 6 months worth of interest at closing. This is not included in our loan amount and will be brought into escrow. The buyer will be converting the property into a Cannabis manufacturing facility, located in the green zone. One of the principals was brought in as a specialist to spearhead this operation and has a dispensary in Santa Cruz. The property features an array of structures including a SFR, rental units, shop, barn, mutliple greenhouses and a trucking yard.
