Archway Capital Provides $7M Cash Out Refinance Loan For Industrial Properties In San Bernardino And Livermore

Archway Capital provided a 50% loan-to-value (LTV) cash-out refinance loan on two properties in California. The properties include a multi-tenant industrial property located at 360 East Rialto Avenue in San Bernardino and an IOS yard in Livermore. The sponsor purchased both properties in 2023 using all cash and approached Archway Capital for a cash-out recapitalization to access liquidity for further property acquisitions. The sponsor's plan is to generate income from the properties while developing plans to convert them into Electric Vehicle Fleet Charging properties. The loan term is 12 months, with no prepayment penalty and a fixed interest rate of 11.95%.

Summary of transaction details

• Property Type: Industrial
• Loan Amount: $7,000,000.00
• Loan Type: Cash Out Refinance
• Loan Terms: 12-month term at 11.95% fixed rate
• LTV: 50%
• Property Address: 360 East Rialto Avenue, San Bernardino
• Market: San Bernardino

The loan was facilitated by Jessica Carter, a representative from Archway Capital. The landlord of the properties is EV Realty. Steve Bram, David Pascale, and Nicholas Rogers, all from George Smith Partners, acted as the brokers in this transaction.