Deal Summary: ABP provided acquisition and construction financing to a local developer to purchase an existing piece of real estate, demolish the existing property, and build 2 detached single family residences in Pacific Beach, California.  The property is located less than 5 minutes the beach, and provides and upscale offering to a fast growing market.

Loan Amount: $1,320,000

Loan Type: Acquisition & Construction Financing

Loan Term: 12 Months

Property Type: 2 Single Family Residences

Property Location: 1351-1355 Thomas Avenue, San Diego, CA 92109

Lot Size: 6,300 sf.

Property Square Footage: 4,600 sf.