Los Angeles and Oakland, CA – Eagle Group Finance has provided American Indian Model Schools (AIMS) with a short-term $4.5 million loan to facilitate the acquisition of a 41,000-square-foot commercial office building on 171 12th Street in Oakland. This property serves as the main campus for its American Indian Charter School II.
This property houses the largest of AIMS’ three charter schools in Oakland with more than 650 kindergarten through 8th grade students. Collectively AIMS serves nearly 1,200 inner-city students from K-12 on three campuses. The charter schools are well known for their excellent student attendance and rigorous curriculum standards.
“AIMS’ five-year lease on the property was set to expire and our financing allowed them to take advantage of their option to purchase the property,” said Eagle Group Finance President Brian Good.
“They had to close quickly,” he added. “The seller was not going to extend and there were other bidders for the property willing to pay a premium. They simply did not have enough time to find a traditional lender to provide the acquisition financing. Our loan not only allowed them to complete their acquisition, it gave them time to find long-term financing,” said Good.
The broker representing the buyer was Gilda Rivera, of George Smith Partners in Los Angeles.
About Eagle Group Finance L.P.
Eagle Group Finance (a subsidiary of Eagle Group, LLC) is a West Coast-based direct lender that provides short term bridge financing to commercial property owners at fixed interest rates on a non-recourse basis. Eagle lends on all property types in California, Nevada and Arizona. Visit our website at www.eaglegroupfinance.com to see more details on our loan program.