San Francisco-based California Real Estate Investment Trust...
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San Francisco-based California Real Estate Investment Trust has provided a 10-year, $5-million loan to the limited partnership that owns the South Coast Commercecenter office complex in Fountain Valley. The loan is secured by a second trust deed on the $16-million, seven-building project. The deal calls for interest on the loan to accrue at 14% per year and also gives the REIT 25% of any profits remaining after debt service payments. United Western Mortgage Corp. in Newport Beach acted as mortgage broker.
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