James Weissenborn Of Stormfield Capital Provides $16 Million Bridge Loan For San Carlos Condo

The property asset involved in this transaction is a condo located at 560 El Camino Real in San Carlos, featuring a total of 20 units and encompassing a square footage of 23,684. The loan associated with this asset amounts to $16,000,000 with a bridge loan type and has terms spanning 2 years, utilizing a note rate of SOFR + 4.85%.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $16,000,000
• Market: San Carlos
• Units: 20
• Square Footage: 23,684
• Lender: James Weissenborn - Stormfield Capital
• Brokers: Yuchen Ai & Max B. Mellman - Max Benjamin Partners, Inc
• Loan Type: Bridge
• Loan Terms: 2 years
• Note Rate: SOFR + 4.85%

The deal featured key individuals including lender James Weissenborn representing Stormfield Capital, and brokers Yuchen Ai and Max B. Mellman representing Max Benjamin Partners, Inc, facilitating the arrangement for the condominium financing.