PB Financial Group Corp. Provides $275K Hard Money Loan For Multifamily Property In Alameda

The property involved in this closed transaction is a multifamily asset located at 2151 Encinal Ave. in Alameda. The transaction took place on July 20, 2021. The property is situated in the Alameda market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $275,000
• Address: 2151 Encinal Ave.
• Market: Alameda

PB Financial Group Corp. served as both the lender and landlord in this transaction. Pouyan Broukhim, from PB Financial Group Corp., acted as the broker representing the parties involved.

The loan amount for this transaction was $275,000. The loan term was set at 2 years with fixed interest-only payments. The loan was referred to as the "2nd MTG Hard Money Loan $275,000." The funds obtained from the loan were used to pay off property taxes and for a business purpose. The property had an existing first mortgage balance of $959,000. PB Financial Group Corp. funded the loan within 2 weeks, and the borrower did not need to provide any tax returns.