A large mansion and its amenities

18 Coral Rdg, Newport Coast, CA

Purpose: Business purpose loan to invest in borrower’s friend’s business.
Property Value: Purchased for $20.6 million April, 2020
Size: 12,628 sqft, 6 bd, 11 ba
Notes:
• Built in 2017
• Personal Guaranty
Terms:
Loan Amount: $3,000,000
CLTV: 59%
Term: 12 months
Interest Rate: 10.9%