$23.15 Million | Office
- Loan Amount: $23,150,000
- Loan Term: 36 Months
- LTV: 75%
• 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.
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