Raj Mulchandani & Spencer Weaver Secure $31M Bridge Loan For 3 Luxury SFRs In Newport Coast

The asset involved in this transaction consists of three luxury single-family residences (SFRs) located in Newport Coast and Dana Point, with varying square footages of 11,422, 10,947, and 7,793. The combined As-Is value of the portfolio is $62.5 million, while the after-repair value (ARV) is assessed at $88 million, securing a bridge loan that serves to fund ongoing construction and provide additional cash-out proceeds.

Summary of transaction details:

• Property Type: Luxury Single-Family Residences
• Transaction Amount: $31,000,000
• Loan Type: Bridge
• Loan Terms: 24 Months
• Asset Location: Newport Coast & Dana Point
• Broker: Raj Mulchandani & Spencer Weaver - First Capital Trust Deeds

This financing arrangement was facilitated by First Capital Trust Deeds, which partnered with a direct family office relationship to complete the funding in just two weeks. The loan includes $5 million in cash-out proceeds intended for the borrower’s new commercial development, allowing for the completion of construction on all three projects.