A high-balance refinance transaction by Ellis Yi was recently completed in Venice, California, featuring a $5,700,000 private money loan secured by a first trust deed blanket position. Structured at a 68.5% loan-to-value ratio and carrying an 11% interest rate, the deal reflects a strategic recapitalization in one of Southern California’s most dynamic coastal markets.
The loan proceeds were used for a cash-out refinance, paying off an existing lender while also extending note maturity. Transactions of this nature are often time-sensitive, particularly when borrowers are approaching maturity deadlines and need to restructure debt efficiently. Private capital plays a crucial role in these scenarios by providing speed, flexibility, and customized structuring that traditional lenders may not offer.
Venice remains a highly desirable coastal submarket with strong long-term real estate fundamentals, limited supply, and sustained buyer demand. Even at 68.5% LTV, the first-lien positioning and asset quality contribute to a balanced risk profile for a transaction of this size.
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