A Development Site in Paso Robles with a building square footage of 246,202 square feet was involved in a recent transaction. The loan amount for this acquisition totaled $7,500,000 with a loan type of Acquisition Loan and loan terms included 91% of the purchase price, Rate: SOFR +842.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,500,000
• Lender: Jason Moyal, Drew Rands, Max B. Mellman (MaxBenjamn) - Max Benjamin Partners, Adam Tancredi
• Market: Paso Robles
• Loan Terms: 91% of Purchase Price; Rate: SOFR +842

The lenders involved in this loan transaction include Jason Moyal, Drew Rands, Max B. Mellman, and Adam Tancredi. The loan provided high leverage for short-term acquisition financing as part of Phase 2 of a Build for Rent Community in Central Valley, CA. This financing will be replaced by a larger construction facility, ultimately contributing to the development of much-needed housing in the Central Valley.