Palmdale, CA

This loan is a first deed of trust on three contiguous vacant commercial land parcels in Palmdale, CA. Located in northern Los Angeles County’s Antelope Valley, approximately 60 miles north of Downtown Los Angeles, Palmdale is known for its growing aerospace and defense industries, comparatively affordable real estate, and expanding commercial development. The city offers convenient access to State Route 14 and is home to major employers, including Lockheed Martin, Northrop Grumman, and Boeing. The subject property, located at the southwest corner of Auto Center Drive and Carriage Way, consists of three vacant commercial parcels totaling approximately 7.01 acres, or 305,215 square feet. The generally level site features approximately 723 feet of frontage along Carriage Way and 425 feet along Auto Center Drive, with municipal utilities available at the property line. Situated within the Antelope Valley Auto Center Specific Plan, the property is designated primarily for automobile-related commercial uses, including vehicle sales and service. The property was appraised at an “as-is” market value of $2,600,000 as of August 31, 2026. The Borrower acquired the parcels for cash in February 2022, and the property is currently owned free and clear of existing liens. The purpose of the loan is to provide $1,300,000 in cash-out proceeds, representing a 50% loan-to-value ratio, to fund renovations of a multifamily property owned by the Borrower in Downtown Los Angeles. Upon maturity, the Borrower intends to either sell the property or refinance into long-term bank financing and continue holding the land for future development. The loan will have a maturity of 24 months.