Bolour Associates Refinances Development Site In San Jose For $10.5M

A repeat borrower secured a $10,500,000 refinance loan from Hiren Naik and Clay Goldthwait of Bolour Associates. The loan was obtained for a development site located at 49 North 4th Street in San Jose, CA. The property has a size of 90,764 square feet and is situated in the San Jose market.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $10,500,000
• Lender: Hiren Naik & Clay Goldthwait - Bolour Associates
• Landlord's Rep: Robert Slatt & Jeff Wilcox - Gantry
• Loan Type: Refinance
• Loan Terms: 24 Months

Bolour Associates specializes in asset-based bridge lending, with a focus on urban infill primary and secondary markets. They provided the borrower with the necessary funds to execute their revised business plan, allowing for modifications to entitlements on the prime San Jose land parcel and updates to construction drawings for future multifamily development. For more information on Bolour Associates' lending services, interested parties can contact Clay Goldthwait at ☎️ 323-677-0550 ext.121, 📧 [email protected], or visit their website at bolourassociates.com/lending/. Bolour Associates offers financing options up to 75% loan-to-value (LTV), with loan terms of up to 2 years and loan amounts ranging from $2 million to $30 million. Interest rates start at 9.50%.