Beverly Hills, CA – April 28, 2021
OneMillionDollarPlus ($1Million+), an ultra-luxury financing advisory firm, announced today the closing of a record-breaking $82.8 million financing package for a mega-mansion in Beverly Hills, California which was achieved by using the future value of the property. The financing of nearly $83,000,000 replaced the existing debt and the remainder toward construction, in a historic moment that makes the financing larger than the current value of the home.
“Navigating the lending process for the ultra-high-net-worth individuals seeking multi-million-dollar properties across the globe requires an expertise that only we bring to the table,” said Ira Meltzer, CEO and Founder of OneMillionDollarPlus, a financing advisory firm that specializes in working the high-net-worth borrowers. “There is no secret to what we do. OneMillionDollarPlus negotiates with the top private banks and global financial conglomerates to make sure clients receive the lowest rates available and, in this case, it resulted in a record-breaking transaction that is actually based on future values.”
In this case, the funds replace existing financing plus additional funds for construction which, once completed, is expected to be valued in the $150 million range. The new construction, which will almost double the size of the current approximately 12,000 square-foot home, will be completed within three years.
Throughout its history, OneMillionDollarPlus has funded billions in residential financing breaking countless records across the country. In Hawaii, OneMillionDollarPlus holds the record for the largest home purchase financing of approximately$20 million which carried a 75 percent loan-to-value for a home in Maui, which is rare. Recently, in Colorado, the company also helped a client get $20 million in financing and under 3 percent interest-only with highly favorable terms for a $27 million ski chalet in Aspen.
“We help our clients reach their real estate mortgage and credit planning goals with enhanced credit analysis, credit structuring, and our understanding of the state and federals laws that impact borrowing power,” adds Meltzer. “Our team assembles the full picture of loan qualifications for the best results.”
Even amid today’s housing shortage, OneMillionDollarPlus continues to work with a diverse pool of clients with a system that creates wealth and leverages qualified borrowers’ earned ability to borrow at the market’s lowest rate with the least hassle.
Often called the “Lender to the Stars,” Ira Meltzer and his team at OneMillionDollarPlus ($1Million+) have funded more than $4 billion in luxury and ultra-luxury residential financing. As a result, the company helps clients maximize wealth and benefits for borrowers seeking to finance more than $1 million.
With more than 35 years of experience and a deep understanding of the complexities that exist within the financial portfolios of high-net-worth individuals, OneMillionDollarPlus leverages preparation, strategy, and superior access to help clients protect and add to their wealth. Ira’s history in facilitating jumbo and mega-jumbo mortgages throughout the nation is unparalleled.