- Loan Amount: $31,310,500
- Loan Term: 3 Years
- LTV: 45%
Bridge Loan For Office Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 Years
- Interest Only
• The borrower was looking for a rate/term refinance for this office property located in Cedar Knolls, New Jersey.
• The capital will be used for property renovations and TIs/LCs to stabilize the property that was 52% occupied at closing.
• The borrower was looking for a custom-tailored loan solution and certainty of execution on this transaction.
• Money360 met the borrower’s target close date so they could begin executing their business plan.
• The loan structure includes a three-year term with an additional two (2) 12-month extension options and future funding to be used for tenant improvement and leasing commission costs for new tenants. Money360 also provided CAPEX funds.
• After getting to know the borrower and the market, Money360 confident with the borrower’s experience and felt our financing would help successfully execute their business plan.
Subscribe to Our Newsletter
Stay up to date on the latest CRE news and trends