Acquisition Financing | Coronado, California | $2,717,392

Acquisition Financing | Coronado, CA | $2,717,392

Deal Summary: ABP Capital provided acquisition financing to a local development group for the purchase of a 13-unit apartment complex in Coronado, California. The property is located minutes from the beach, the Hotel del Coronado, the Coronado Yacht Club and Glorietta Bay. With the property now under ownership, the group plans to secure construction financing for renovation. Once complete, the complex will feature six upscale 2,000 square foot, two-story units with underground parking.

Loan Amount: $2,717,392

Loan Type: Acquisition Financing

Loan Term: 6 months

Property Type: 13-unit multi-family (existing) / 6-unit multi-family (planned)

Property Location: Coronado, CA 92118

Total Lot Size: 12,117 SF

Total Liveable Square Footage: 12,000