© 2017 by North Star Lending, LLC

DONE DEALS

CLOSED: April 13, 2018 - North Star Lending made a $1,700,000 commercial purpose loan secured by a deed of trust lien against a large commercial property (multiple lots and improvements) -- retail and office -- on a major Los Angeles, California thoroughfare on the following terms:
 

  • Loan Amount: $1,700,000

  • Term: 12 months 

  • Fixed Rate: 9.985% per annum

  • Points: 2.5 points

  • Collateral: 2nd priority lien

  • Personal guaranty from a qualified, credit-worthy principal of the borrower

  • 1 x 12 month extension option for a 1% fee with interest-rate re-set at time of exercise

  • Interest only monthly installment payments with a balloon payment at time of maturity

CLOSED: February 28, 2018 - North Star Lending made a $210,000 commercial purpose loan secured by a deed of trust lien against a single family residence (income producing) in Los Angeles, California on the following terms:
 

  • Loan Amount: $210,000

  • Term: 12 months 

  • Fixed Rate: 9.975% per annum

  • Points: 2 points

  • Collateral: 2nd priority lien

  • Non-Recourse / No Personal Guaranty

  • 2 x 6 month extension options, each costing a fee of 0.5%, with interest-rate re-set at time of exercise

  • Interest only monthly installment payments with a balloon payment at time of maturity

CLOSED: October 25, 2017 - North Star Lending made a $150,000 commercial purpose loan secured by an income producing residential condo in Los Angeles (Wilshire Corridor), California on the following terms:
 

  • Loan Amount: $150,000

  • Term: 12 months 

  • Fixed Rate: 11.00% per annum, simple interest

  • Points: 2.5 points

  • Collateral: 2nd priority lien

  • Non-recourse (no guaranty)

  • Interest only monthly installment payments with a balloon payment at time of maturity

CLOSED: October 4, 2017 - North Star Lending made a $600,000 commercial purpose loan secured by a multi-tenant retail center on Beverly Blvd., in Los Angeles, California on the following terms:
 

  • Loan Amount: $600,000

  • Term: 12 months 

  • Fixed Rate: 9.00% per annum, simple interest

  • Points: 2 points

  • Collateral: 2nd priority lien

  • Recourse to principal of LLC borrower (guarantor)

  • Interest only monthly installment payments with a balloon payment at time of maturity

  • Extension Option: 1 x 12 month extension option for fee of 1%

CLOSED: May 31, 2017 - North Star Lending made a $346,500 commercial purpose loan secured by a single family residence in Monterey Park, California on the following terms:
 

  • Loan Amount: $346,500

  • Term: 12 months

  • Fixed Rate: 9.85% per annum, simple interest

  • Points: 2 points

  • Collateral: 1st priority lien

  • Interest only monthly installment payments with a balloon payment at time of maturity

  • Extension Option: 1 x 6 month extension option for fee of 0.5%

CLOSED: March 10 2017 - North Star Lending made a $1,560,000 loan for a commercial property in South Los Angeles on the following terms:
 

  • Loan Amount: $1,560,000

  • Term: 12 months

  • Fixed Rate: 8.25% per annum, simple interest

  • Points: 2 points

  • Purpose: To refinance a more expensive hard money loan

  • Collateral: 1st priority lien

  • Interest only monthly installment payments with a balloon payment at time of maturity

  • Extension Option: 1 x 12 month extension option for fee of 1.0%

CLOSED: North Star Lending recently closed a loan for this property on the following terms:
 

  • Loan Amount: $500,000

  • Term: 12 months

  • Fixed Rate: 10.0% per annum, simple interest

  • Purpose: To finance tenant improvements for incoming anchor tenant

  • Collateral: 2nd priority lien against a multi-tenant, anchored commercial retail center in Los Angeles County, California

  • Interest only monthly installment payments with a balloon payment at time of maturity