$3,300,000 Bridge Loan in Laguna Beach, CA

AB Capital provided a $3,300,000 bridge loan to refinance a land parcel on Pacific Coast Highway in Laguna Beach, CA. This loan is collateralized by a 18,993 sqft parcel of land 1 block from the beach. The funds will allow the sponsor, an experienced real estate developer, to finalize plans to develop a mixed-use project consisting of approximately 6,000+ sqft of retail/office space below 7,500+ sqft of residential condos. The project will offer panoramic ocean views and feature a 30 stall subterranean parking garage. This loan comes with a personal guarantee from the sponsor.