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Success story · La Jolla

A maturing lien retired. The borrower kept the Windansea property.

How a $3,000,000 first trust deed with a new 36-month loan term replaced a lien that was coming due on a La Jolla vacation rental.

Vacation rental residence · La Jolla, California

The funded La Jolla residence: a two-story brick house with a chimney, bay window, arched entry and attached garage, with a lawn, flower beds and a palm in front.
Loan amount
$3,000,000
LTV
66.67%
Term
36 months
Value above loan balance
$1,500,000

Past performance does not indicate future results.

The borrower’s existing lien on a vacation rental in La Jolla’s Windansea Beach area was approaching maturity. The borrower wanted replacement financing that would allow them to continue holding the property.

Alliance Portfolio retired the maturing lien with a $3,000,000 first trust deed as replacement financing.

  1. 01The property

    A Windansea vacation rental

    The collateral is a residence in the Windansea Beach area of La Jolla, operated as a vacation rental, with a stated value of $4,500,000. The home is a brick house with a bay window, mature planting and a lawn to the street.

  2. 02The challenge

    A lien coming due on a property the borrower wanted to keep

    The existing lien was approaching maturity, and the borrower wanted replacement financing that would allow them to continue holding the vacation rental.

    The borrower was a repeat Alliance Portfolio client.

  3. 03The structure

    A first trust deed with a new 36-month loan term

    Alliance Portfolio funded a $3,000,000 first trust deed at 66.67% loan-to-value. Against the stated value of $4,500,000, that leaves a difference of $1,500,000 between the property value and the loan balance, before transaction costs.

    The loan proceeds retired the maturing lien, and the new trust deed took its place in first position on a new 36-month loan term.

  4. 04The result

    The maturing lien retired, the property retained

    Alliance Portfolio retired the maturing lien at closing and put a 36-month first trust deed in place. The borrower retained the Windansea vacation rental with replacement financing that addressed the approaching maturity.

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