CASE STUDIES

Lakeview & Meridian Condominiums

Loan Amount: $57,300,000 Closed: 3rd Quarter 2005 Locations: 1271 Lakeview Circle (Lakeview) 110 Dias Circle (Meridian) Pittsburg, Contra Costa County, CA
	Client: Seaview Ventures, LLC, Larkspur, CA
	Properties: Two apartment communities that consist of 25 two-story buildings that contain 288 condominium units on approximately 14.76 acres in Pittsburg, California.
	Assignment: Arrange bridge financing to acquire and sell the individual apartment units as condominiums.
	Challenges: Suburban location with unproven condo market 90% loan to cost financing request Non-recourse
	Results: $57,300,000 Rate: LIBOR plus 475 bps, Interest Only Fees: 1.50% Liability: Non-recourse 90% of project costs