$2,000,000 | 2nd TD Loan | West Covina, CA

$2,000,000 | 2nd TD Loan | West Covina, CA

Large apartment owner needed quick cash for a fast moving opportunistic acquisition and provided an 80 unit property in West Covina as collateral for a $2,000,000 2nd trust deed. The current senior loan had a large prepayment penalty and borrower needed to wait for the prepayment penalty to expire, hence the need for a 2nd. He approached RTI due to its strong reputation of “certainty of execution.” The transaction funded in 5 days from the original submission.