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Quantum Capital Partners Secures $5M Second Trust Deed

Quantum Capital Partners Secures $5M Second Trust Deed

BEVERLY HILLS, CA—Quantum Capital Partners has arranged a $5 million second trust deed for an unnamed retail property in Los Angeles. The loan has a five-year fixed rate at 4.95 percent with a 3-2 prepay.

“There were four years remaining on the existing loan and the defeasance premium was over $3 million. Identifying a lender that would do a second trust deed was the only option,” said Mike Yim, managing director at Quantum, in a statement. “This was a challenging loan to arrange; lenders are usually very reluctant to take second positions, especially for a property in a secondary market.  We were very excited to help our client achieve his goals of maintaining flexibility while gaining the capital necessary to take advantage of a fast moving market.”

Yim as well as colleague Jonathan Hakakha originated the loan and negotiated the transaction with the lender.

TAGS: Lending Retail
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