About this Property in Corona, CA

A triad of real estate investors with a desire to expand their portfolio approached Enact Partners intending to purchase an industrial property located in the city of Corona, California. The purchase was complicated by the fact that the only tenant was planning to vacate the property within 90 days, and the investors had a small window to close the deal. With these factors, traditional financing through a bank was not a viable option. The investors opted to make an upfront investment to undertake modest upgrades on the property to attract new long-term tenants with increased rents. Their long-term strategy is to refinance the loan with a conventional lender within a year of purchase, after obtaining solid tenants.