Sponsor profile
A sponsor developing a single family residence in Los Angeles. Structured and funded end to end by Passy Capital, underwritten on the project and its exit rather than on the sponsor's personal balance sheet.
Deal structure
A ground-up single family development in Los Angeles, at the larger end of what we fund directly.
Passy Capital structured and funded a $6M development loan at 60% loan-to-value, sized against the project rather than against a completed building that did not exist yet.
Exit
Sale of the finished property on completion.