$2,000,000 Construction Loan in Newport Beach, CA

AB Capital provided a $2,000,000 loan to pay off an existing bank loan with the remaining proceeds to complete construction.

This loan is secured by a fully entitled residential lot approved to build two custom condominiums steps from the sand in Newport Beach. Unit A will consist of 1,740 sqft of living space comprised of 3 bedrooms, 2 bathrooms and a rooftop deck with ocean views. Unit B will consist of 1,938 sq ft of living space comprised of 3 bedrooms, 2 bathrooms and a rooftop deck with ocean views. Highly Experienced development team with strong knowledge of the local market.