Crescent Lenders, a direct private money lender based out of Los Angeles, CA, financed an assisted care facility for a real estate investment company valued at $1.25 million in Culver City, Los Angeles.
The borrower (Kalnel Living LLC) provided a down payment of $600k on the purchase price while Crescent Lenders financed the remaining capital with a $650k first trust deed position loan.
The loan was for the purchase of a single family 3 bedroom, 2 bathroom, 1440 square foot home which will be converted into a boutique assisted living facility.
The 18 month private money loan carries a 7.99% interest-only rate and comes with a 6 month pre-payment penalty.
With a low loan to value ratio of only 52%, this creates a strong equity position for a 1st trust deed investment.
Based on the attractive equity, the borrower's excellent track record of working with CEO Mario Padilla; Crescent Lenders has strong confidence in the investment.
Kalnel Living LLC is run by experienced and successful real estate investors in healthcare related real estate sector.
They have successfully operated and owned owned drug rehabilitation facilities and are now building high-end assisted living facilities (boutique style with Le Corden Bleu chef on staff.)
The exit strategy from the private money loan is to eventually sell the rehabbed assisted living facility.
About Kalnel Living LLC - Kalnel Living LLC is an experienced assisted living facility operator caring for elderly people across Southern California.
The fully secure facility which is boutique in size, ensures a great resident to caretaker ratio, certifying the best care for its residents.
Caretakers are on call 24 hours a day to assist residents with numerous daily services such as dressing, bathing, medication management, and dementia care.
About Crescent Lenders - Crescent Lenders is an asset based private lending company located in Los Angeles, California.
They provide real estate investors with private investment loans for fix and flips, purchases and refinances and often fund specialty real estate investments that big banks will not touch.
Their CEO and Chief Loan Originator Mario Padilla has originated hundreds of millions of dollars in real estate investment loans over the past decade.
If you are seeking a private money lender for a California based real estate project you can find them online at CrescentLenders.com.
For more information, please visit: https://www.crescentlenders.com