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Loan Amount

$11,450,000

Construction Financing for a Truck-stop/Travel Center Ground Up Development; 78% LTC

Property Type
Truck Stop
Area
San Joaquin Valley
Purpose
Construction Financing
Brand
Travel Center
Construction Financing for a Truck-stop/Travel Center Ground Up Development; 78% LTC

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First Financial Capital had successfully completed construction financing for a 16-acre travel-center & truck-stop development in the San Joaquin Valley, California in the amount of $11,450,000; 78% [LTC (loan to cost)](https://www.firstfincap.com/articles/loan-to-cost-ltc).

FFC was able to provide the borrowers with their first loan disbursement within two weeks of receiving a fully executed [LOI (letter of Intent)](https://www.firstfincap.com/articles/letter-of-intent), however, funding was delayed due to [ROFR (right of first refusal)](https://www.firstfincap.com/articles/right-of-first-refusal) rights upon signing a franchise agreement that were prejudice to the lender. FFC reacted quickly and their team was able to come to a subordination agreement with the franchisor within 30 days.

Estimated project completion is set for 10-months (Summer, 2022)

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  • First Financial Capital
    9255 Sunset Blvd, Ste 800
    West Hollywood, CA 90069
  • Contact
    (310) 694-5060