6845 Bristol Dr., Oakland CA 94706

This is a partially completed, new-construction home in the Berkeley Hills, with panoramic views of the hillsides. The property became bank owned and caught the attention of one of our Contractor partners, who brought it to our attention. The borrower is an A-Paper level investor who is working in partnership with the contractor and NorCal.  We are partnering with another lender on the 1st mortgage, with this loan going on 2nd position. The 2nd has an equity postion of 20%, creating a ROI of nearly 37% based on a conservative sale price of $1.3M. The Contractor expects to finish the project in two months - all permits and plan maps have been signed off by the City.