TIC Lender Targets Noe Valley

Word on the street is that Marin-based Circle Bank is planning to open a branch on Noe Valley’s 24th Street. The bank reportedly believes the demographics in Noe and its immediately surrounding neighborhoods are very similar to that of Marin (no shock there).

With 229 TIC interests having sold since January for an average price of $622,606, it doesn’t appear the TIC market is drying up. Circle’s fractional loan product is the go-to loan for TIC purchases in 3+ unit buildings. (Fractional loans allow TIC owners to be responsible for their own, individual loan vs. all owners sharing a loan.)

I’m betting that fellow TIC and fractional loan specialist Sterling Bank, located at Church and 24th Street, can’t be too happy about its future neighbor. What do you think, Noe neighbors?

2 responses to “TIC Lender Targets Noe Valley”

  1. Very interesting development Eileen – thanks for the heads up. BTW, Have you ever heard of any TIC building going into forclosure?
    I love ISFRE.

  2. insidesfre says:

    That is a good question, one that gives me an idea for my next TIC-related post. I’m gonna get on the horn and see what the foreclosure activity has been on TICs. My guess is that the loans have been performing well. That’s what’s been keeping these fractional loans going. But I’ll follow up! Thanks for your positive comments!

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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