This was one of many purchases that we helped this client out with. He had a great story, sold one building in Pasadena and then exchanged into 4 buildings in San Bernardino. He was referred to us by CRE agents.
Biggest challenge was that properties were in some real tertiary markets of San Bernardino and the loans were small which filtered out most lending sources.
One of our long term capital sources has financed loads of properties in the San Bernardino Market and they worked with us on this one and all of the others that the client bought. It was very smooth and we closed on time. Really enjoyed the process.