Regal Properties Closed 3 Fantastic Financings in Early May 2021

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In about a 1-week period, Regal Properties’ financing team closed 3 amazing loans on 3 different property types with 3 different lenders.

The owner of a neighborhood retail shopping center in east San Diego County, in a refinance, pulled out approximately $7,500,000 in cash and still reduced the monthly payment by over $16,000, with a non-recourse life insurance company loan fixed for 10 years at 3.32%, with interest-only for 2 years, amortized over 30 years.

The owner of a 50-unit apartment project in North San Diego County obtained a $6,000,000 Freddie Mac agency loan, fixed for 7 years at 3.19%, with interest-only for 7 years, with a 20-year term, amortized over 30 years.

A Regal Properties’ buyer of a mixed-use commercial and residential property near downtown San Diego obtained a 61% LTV purchase money loan from a local credit union for $1,600,000, at 3.5% interest with a 12-year term, amortized over 30 years.

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