LFB successfully arranged the financing for the refinance and cash out on an unimproved parcel of land adjacent to the Pacific Ocean in Imperial Beach, a beach community within southern San Diego County. The financing arranged allowed the client to pay off their underlying land loan of $1,100,000, plus unpaid property taxes to date. The remaining balance was held in a draw account to be used towards entitlement related soft costs to complete the project, which is contemplated to be a mixed-use concept between multifamily and hotel units.