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Building

Transaction Details

San Jose, CA property
San Jose, CA property

Cash-Out Refinance

$2,500,000

San Jose, CA

Cash-Out Refinance

  • Project Type: Cash-Out Refinance
  • LTV: 50%
  • Rate: 11.25%
  • Guaranty: Recourse

Transaction Overview

Max Benjamin Partners successfully arranged a $2.5 million cash-out pre-development loan for a planned 20-unit, for-sale condominium project in San Jose, California. The financing was secured on behalf of a repeat MBP client who had already completed the rezoning process and obtained discretionary approvals, creating significant value and substantially advancing the project toward construction.

MBP structured the financing to fund the remaining pre-development costs required to secure building permits while also allowing the sponsor to access a portion of the equity created through the entitlement process. At a conservative 50% loan-to-value, the transaction provided the borrower with meaningful liquidity without overleveraging the asset or disrupting the project’s continued progression.

The additional proceeds enabled the sponsor to preserve momentum on the San Jose development while redeploying capital into other opportunities within its growing pipeline. This closing demonstrates MBP’s ability to recognize value created before vertical construction, navigate complex pre-development underwriting, and structure strategic financing solutions that support both project-level execution and a sponsor’s broader growth objectives.

MBP specializes in debt and equity placement for all asset classes. Our extensive network of unique capital sources in development and permanent financing and extensive capital markets knowledge allows us to tackle a wide variety of transactions, regardless of complexity or size, to benefit our clients.

MBP has a team of dedicated and experienced finance professionals with you at every step. We are consistently improving and expanding our capital market relationships and are committed to exceeding our client's expectations through these relationships, innovative solutions, and outstanding work ethic.

Intermediaries Team

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