Opportunity Zone
CRE Purchase
San Jose, CA
The subject property includes an 11,000+ square foot commercial building and an adjacent parking lot.
The property lies within an Opportunity Zone. The $4,830,000 loan was used to close the purchase of the property. The Borrower, a qualified Opportunity Zone fund, will submit plans redevelop the property into a new 60,000 square foot office and retail building.
Property:
Commercial
Security:
1st Trust Deed
Loan:
$4,830,000
Value:
$6,900,000
LTV:
70%
Term:
6 months
