Flower Mart

Flower Mart consists of a multi-tenant retail/wholesale building with a gross building area of 29,460 sq. ft. iBorrow provided a loan secured by a promissory note and two second trust deeds on retail space in downtown Los Angeles, The sponsor purchased the note from the then current first trust deed holder at a discounted rate. He used iBorrow’s funds to purchase the note and pay property taxes.

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  • Property Type Warehouse
  • PurposeNote purchase
  • Gross Annual Coupon10.00%
  • Loan Amount$6,150,000
  • Loan to Value48.3%
Location

Los Angeles, CA

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