TMC Financing Secures $1.5M Financing for Six-Unit Assisted Living Community in San Diego

SAN DIEGO — TMC Financing has arranged $1.5 million in total project financing for Butterfly Gardens, a boutique assisted living community in the La Jolla neighborhood of San Diego.

The financing came through the SBA 504 loan program, and allowed the community’s owner, Leo Espinosa, to purchase a building after many years of leasing.

Jennifer Davis of TMC was able to secure financing that allowed Espinosa to purchase a 2,746-square-foot facility. Espinosa purchased the $1.5 million property with a 15 percent down payment and a below-market interest rate fixed for 25 years.