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commercial real
estate Loans closed

As of September 24, 2019

$4,288,000
Purchase Refinancing
‍5-year

Multi-tenant flex
Gilbert, AZ 
August 2019

This was 50% loan to value with 12-month interest only period. Managing over $3 billion in assets, sponsor is an Irvine-based private equity firm founded in 1996. Loan was approved in 32 days.

$3,540,000
Cash-out refinance

‍7-year

San Diego, CA
August 2019

This was 26% loan to value. Sponsor is high net worth individual who bought subject collateral in 1988. Property located in Gaslamp Quarter. Loan was funded in 47 days.

$8,100,000
Acquisition finance
‍5-year

Office
San Diego, CA
July 2019

Building is Class B office with 51,237 SF in net rentable space. Loan to value based on initial funding was 54% and 62% based on total commitment. One tenant is responsible for 61% of rental income. Non recourse loan with standard carve out guarantees.

$18,480,000
Cash-out Refinancing
‍3-year

3 MFR properties with
total of 113 units
San Diego, CA 
May 2019

This was a 62% loan to value with 18-month interest only period. The loan had a cash-out component to partially reimburse sponsor. Managing over $3 billion in asset, sponser is an Irvine-based private equity firm founded in 1996. Loan was approved in 40 days.

$4,780,000
Acquisition Refinancing
5-Year loan

11-Unit Light Industrial
Greensboro, NC 
May 2019

Based in Orange County, Sponsor is repeat client with a real estate portfolio under management of four million SF. Loan represented 61% Loan to cost secured by a 216,000 SF light industrial complex. Loan was approved in 44 days.

$4,895,000
Acquisition Refinancing
10-Year loan

102-room Quality Inn
Encinitas, CA 
April 2019

Loan represented 54% of the purchase price. Sponsor is high net worth individual who is a repeat customer. Sponsor, who is an experienced hotel owner and developer, bought subject property because of poor management by the prior owner. Loan was approved in 17 days.

$7,930,000
Acquisition Financing
7-Year loan

Retail Center
Pheonix, AZ 
March 2019

This was acquisition financing of a shadow anchored retail center in Phoenix, AZ. Subject property was 96% occupied by 13 tenants. This was the 11th transaction with the sponsor, a Carlsbad-based real estate investment firm with a successful track record since 1996. Loan was approved in 26 days.

$6,700,000
Acquisition loan
‍3-Year loan

Land
San Diego
‍January, 2019

This was a 50% loan to cost. Sponsor is well experienced developer with proven 30-year track record in MFR development. The purpose of the loan was to recapitalize the sponsor's purchase of a 5,000 SF lot in downtown San Diego. Loan was approved in 24 days.

$6,700,000
Acquisition Financing
‍7-Year loan

Industrial
Santa Ana, CA 
January, 2019

This was a 57% loan to cost acquisition financing to repeat customer and Los Angeles-based private equity firm. Built in 1964, Subject property is a two-story building with 32,000 SF in rental SF. Loan was approved in 49 days.

$4,000,000
Acquisition Financing
10-year hybrid

40,753 SF Industrial Property
San Diego, CA 
November 2018

This was a 66% loan to cost with a 12 month interest only period period to allow customer to perform tenant improvements on the property. The property was 89% occupied at the time of purchase. days.

$4,700,000
Cash Out Refinance
7-year fixed loan

Portfolio of 3 MFR Properties
San Diego, CA 
October 2018

Our customer had bought the MFR properties in the late 90s and wanted to recapitalize investors. Silvergate provided a $2.1 million cash out and a non-recourse loan. Our loan represented less than 50% LTV. Loan was closed in 41 days.

$8,300,000
Acquisition financing
10-year loan (reset at year 6)

80,462 SF Office
Santa Fe Springs, CA 
September 2018

Total purchase price was $12.6 million and Silvergate financed 66% of the purchase.  Customer is an experienced developer and a high net worth individual. Loan was closed in 38 days.

$17,800,000
Purchase of a pool of
multifamily, performing loans

18 loans
Average loan of $916,000
All performing loans
September 2018

Silvergate purchased a portfolio performing. The weighted average LTV was 48% and the DSCR was 1.54 times. Primarily located in Northern California, the average seasoning of the loans was 3 months. Portfolio was purchased in 34 days.

Loan Features

Loans available up to $24 million
3-, 5- and 7-year fixed loan options
Award winning service and customer care
Step down prepayment, no yield maintenance
Out of the box, customized term and structure
45 day rate-locks available, no extra cost
Interest only and non recourse options available - on a case by case basis
No loan origination fee, no lender fee