Reverse Exchange in Palo Alto

A cash-out refinance to fund a reverse exchange was the focus of this deal. Our borrower needed $2.81M cash out from two single family residences in leafy Palo Alto. One of the properties is a 7-unit multi-family single family residential home. The combined LTV is 50% for this 24-month loan. Purchase property is in Menlo Park, additional collateral in Palo Alto is pictured below.