Gas Station Loan; 100% LTV

First Financial Capital provided an acquisition loan in the amount of $1,260,000 for a Marathon branded gas station located in northern California. The subject site had received multiple offers at asking, however our client was the only offer without financing contingencies. The borrower had contacted FFC and we provided a commitment to allow for them to make an offer with full confidence.

FFC had initially committed to 76% LTV (loan to value) for the acquisition in the amount of $1,000,000, however the borrower offered for us to cross collateralize with another asset in order to obtain the remaining delta in the amount of $260,000.