Shaun Jepsen provided a cash out, permanent first mortgage loan for a Multifamily property in downtown San Francisco, California. The property had an unreinforced brick wall which made it a challenge for several lenders to finance without seismic upgrades, but Shaun was able to source a lender that understood the city’s code and was comfortable with the seismic risks and the asset. The market’s rents have also fallen dramatically due to Covid, but the rents have stayed steady, the asset has long-term, historic and economic value, and the lender performed as agreed.
