$23.15 Million | Office
Carmel, IN
- Loan Amount: $23,150,000
- Loan Term: 36 Months
- LTV: 75%
Bridge Loan For Office
- Loan Type:
- Bridge Loan
- Loan Amount:
- $10,765,000
- Loan Term:
- 3 Years
- Amortization:
- Interest Only
- Recourse:
- Non-Recourse
- LTV:
- 57%
Challenges
• The borrower was looking for a refinance loan to take out their construction loan.
• The property was undergoing initial lease-up and the borrower was looking for a loan structure that would facilitate the remaining lease-up and stabilization of the property.
• The borrower was looking for a flexible loan structure that included TIs/LCs to help them successfully execute their business plan.
Solutions
• Money360 provided funds to pay off the construction loan and additional capital for TIs/LCs to stabilize the property.
• The loan structure includes future funding to stabilize the property. It also includes a three-year term with an additional two (2) 12-month extension options.
• The borrower needed a custom-tailored loan structure that would provide the flexibility needed to stabilize and lease up the property.
This loan is secured by 40,463 square-foot office building located in Portland, OR.
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