SOURCE: Money360

Money360

November 28, 2016 11:00 ET

Money360 Closes $10.5 Million Bridge Loan for Signal Hill, California, Property

LADERA RANCH, CA--(Marketwired - November 28, 2016) - Money360, the leading commercial real estate marketplace lending platform, announced today that it has provided a $10.5 million bridge loan for a fully occupied, single-tenant suburban office complex in the Southern California coastal community of Signal Hill, California.

Totaling 72,485 square feet, the 3.7-acre complex features three, three-story buildings connected by steel-framed pedestrian bridges in a campus-like setting that surrounds an attractive water feature. The complex has been fully built out for classroom and administrative office use and is currently leased by an established private university providing post-secondary education in pharmaceutical, nursing and clinical research studies.

"This was an attractive investment for several reasons," said Money360 President Gary Bechtel. "First, this property is in a prime location. Secondly, the operator has an accomplished track record of success, and there is great potential to reuse the property in the event that the tenant vacates. Together, these factors create an attractive opportunity for us and our investors."

The $10.5 million bridge loan is fixed at 10.5% for 24 months, with a loan-to-value ratio of 67.4%.

About Money360

Money360, Inc. is a direct lender that offers borrowers speed, convenience and reasonable terms on small- to mid-balance commercial real estate loans. Money360 operates a marketplace lending platform that caters to institutional and accredited retail investors, providing direct access to attractive fixed income investments secured with a first-priority lien against income-producing commercial real estate. Money360 also operates an investment management company, M360 Advisors, LLC, which manages diversified fund vehicles on behalf of institutional and accredited retail investors. Borrowers and lenders (investors) can register at www.money360.com.

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