Irvine, CA

This loan is a first deed of trust on a luxury single-family residence in the Shady Canyon community of Irvine, CA. Located in central Orange County, Irvine is known for its highly rated schools, strong employment base, affluent residential neighborhoods, and convenient access to Newport Beach, Laguna Beach, and John Wayne Airport. Shady Canyon is an exclusive, guard-gated community featuring custom estates, expansive residential parcels, scenic canyon views, and a private golf club. The subject property, located at 98 Canyon Creek, is an approximately 9,713-square-foot custom estate situated on a 33,541-square-foot (0.77-acre) lot. Constructed in 2008, the residence features seven bedrooms, approximately nine and a half bathrooms, expansive living areas, a detached guest casita, private theater, wine cellar, and four-car garage. Outdoor amenities include a swimming pool, spa, and multiple entertaining areas overlooking the surrounding canyon and golf course landscape. The property has an appraised value of $13,000,000. The purpose of the loan is to provide short-term bridge financing for the acquisition of the property, with a loan amount of $9,100,000 and a 70% loan-to-value ratio. The Borrower will contribute approximately $3,900,000 plus closing costs toward the purchase. Private financing is being utilized to facilitate an expedited closing within the seller's required timeline. The property is being acquired for business purposes and will serve as a private corporate executive retreat for meetings, strategic planning, and other business activities. The Borrower intends to refinance into conventional or institutional financing within approximately 12 months following acquisition. The loan will have a maturity of 24 months.