Sunset Junction, Silverlake section of Los Angeles, CA

• $3,500,000 Cash-out refinance
• 10-year fixed rate
• 2 non-credit restaurants under same operator
• Rents marked to market downward on appraisal
• 1 tenant (50% of asset) not open for business at loan application. C of O issued at funding
• Past environmental issues plague the property
• Questionable credit issues on sponsor
• Full proceeds delivered with relaxed uw standards
• Funding source: NW Regional Bank