LFB recently arranged a $7,700,000 bridge loan for a 25,121 square foot newly built medical office building in Temecula, CA. The loan was used to refinance the underlying construction loan, while providing the necessary funds to complete tenant improvements to the lower level, surgical center and office space.
The two-story building sits on over 2 acres and is within a medical office business park. At time of refinance, the building was 100% leased, but only partially occupied due to construction of the surgical center. The tenants include a medical college and doctors office with surgical center.
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