Eureka, CA -- (ReleaseWire) -- 10/06/2020 -- ReProp Financial has been a private money lender for over 36 years. Success for ReProp Financial spans wider than simple commercial loans. In this instance, ReProp Financial secured capital for a long-term construction site.
A borrower required funds to develop a business park in Southern California with two large phases of construction and over 140,000 square feet of land. ReProp Financial developed the "condominium strategy" and financed various construction aspects which included both mini-perm and long-term take-out loans, which will facilitate the final 70,000 square feet of space.
ReProp Financial loaned a combined total of $6,400,000 for various phases of construction, with fully amortized financing, allowing the developer to retain or sell various portions of the business park. The tenants in the park fully comply with State law but the use does not allow the developer to apply for FDIC insured bank loans. The collateral of this loan varies, but the construction loan terms consist of 24 months, with 15 year fully amortizing take out loans, at 9.89%.
ReProp Financial Founder and CEO, Glenn Goldan, is always ready to help. Glenn's background in agency, brokerage, and property management to development, legislative reform, and consulting, has helped mold ReProp Financial. To submit a loan or learn more information, please visit www.repropfinancial.com.
About ReProp Financial
ReProp Financial, a private money lender, is a division of ReProp Investments Inc, established in 1978. ReProp is a specialized real estate collateral lender specializing in commercial, industrial and agricultural loans. With over 36 years of experience in commercial real estate, ReProp can usually find a creative solution for even the most difficult collateral. All information can be found on www.repropfinancial.com.
For more information on this press release visit: http://www.releasewire.com/press-releases/reprop-financial-funds-multiple-projects-for-developer-in-desert-hot-springs-ca-1304163.htmMedia Relations Contact