San Mateo-based Redwood Mortgage closed a $9.5M loan last week on two properties for a Northern California investor-operator.
The private lender cross-collateralized the two East Bay properties (one is a three-story multi-tenant office building, above, and the other is a 100k SF industrial property) to help the borrower with a maturing loan. The new debt will help the owner reposition one of the properties for sale.
Redwood expects to lend $100M in the next 12 months as it funds an increasing number of loans.
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