SAN DIEGO, CA / ACCESSWIRE / January 23, 2020 / TGP Funding announced Thursday that its private lending fund, the TGP Opportunity Fund, has provided a $1,650,000 refinance loan in Huntington Beach, California.
The multi-family property is comprised of 2,149 square-feet on a 5,873 square-foot lot, and was recently appraised for $925,000. We also cross-collateralized a 3-unit property in Huntington Beach, California. The second property is comprised of 4,462 square feet on a 9,019 square foot lot and was recently appraised for $1,600,000. The combined loan-to-value was 65 percent on this transaction.
"Given that the operators of the business have over 60 years combined industry experience and the prime locations of both properties, this is a strong loan for our portfolio," General Partner and Founder William L Gaskins said.
Our borrower works as residential and commercial developer. The general contracting firm has been in business for over ten years and has successfully completed numerous projects throughout the Western United States.
About TGP Funding
TGP Funding is a San Diego Hard Money Lender providing bridge financing to borrowers unable to obtain a loan from traditional lending institutions. TGP Funding originates hard money loans and bridge loans ranging from $500,000 to $10,000,000 on properties located in metropolitan and coastal areas.
Borrowers turn to the direct lender for a fast and reliable financing source. They pride themselves on their transparency and professionalism, their rapid response times, and competitive pricing and terms.
TGP Funding works with direct borrowers and brokers nationwide. They lend on a variety of property types including multi-family, single family, mixed use, commercial, retail, and hotels. For lending parameters and to inquire about financing options, visit their website here: https://tgpfunding.com/
SOURCE: TGP FUNDING
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