- Loan Amount: $14.300,000
- Property Type: Hotel
- Originator: Shawn Harris
- Location: Watsonville, CA
In this transaction San Diego Commercial & Business Financing was able to facilitate a complicated bridge loan for this newly completed ground up construction project. Hotel had only 6 months operating history with multiple mechanic liens to negotiate to pay off.
LTV: 65% Term: 2 years, Rate: SWAP+325 Prepay: 9 months minimum interest Other: First Mortgage plus Mezzanine financingThe transaction was funded by Managing Partner Shawn Harris.
Shawn Harris has been active in the Commercial Real Estate community in San Diego for over ten years. At CTM Financial Services where he was the President he oversaw the funding of both commercial and residential real estate loans. As a branch manager of Stearns Lending, the largest privately held non-depository mortgage bank in California, he independently operated his own Mortgage Bank, catering to again to both the commercial and residential community.
For the past three years Shawn has focused solely upon the needs of his Commercial Real Estate clients and partners and is the founding partner of San Diego Commercial & Business Services. By leaving the banking world he believe he can better serve his clients by offering a FULL product offering of loan services.
Please see his LinkedIn profile HERE.
Shawn specializes in finding A+ quality loan products for clients and properties that have trouble finding the appropriate loan placing. He has successfully placed loans across all asset classes, including multi-family properties, office buildings, retail properties, gas stations, mobile home parks, restaurants, bars, self storage facilities, and auto shops.