$5.64 Million | Mixed-Use
Baltimore, MD
- Loan Amount: $5,635,000
- Loan Term: 3 Years
- LTV: 67%
Bridge Loan For Mixed-Use Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- $11,370,000
- Loan Term:
- 2 YR
- Amortization:
- Interest Only
- Recourse:
- Recourse
- LTV:
- 70%
Challenges
• The borrower needed funds for the purchase and renovation of a vacant 43,000 square foot office building located in downtown Sacramento, CA.
• Their business plan included transforming the vacant building into a stabilized mixed-use office-retail property.
Solutions
• Money360 provided maximum proceeds at closing for the purchase and sufficient CapEx funds to renovate the building.
• The loan was structured to give the sponsor the ability to sucessfully implement their business plan.
• Money360 was awarded this deal based on certainty of execution; the borrower had issues with their previous lender and chose us because they knew we would deliver.
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