Bridge Loan For Self-Storage
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 Years
- Interest Only
• The borrower was looking for an $11,900,000 construction take-out loan for this self-storage property in Miami, FL.
• They were looking for a lender that would provide a loan structure that would enable them to stabilize the property and fully execute their business plan.
• The borrower was looking for a highly structured loan solution with certainty of execution to capture leasing momentum.
• Money360 provided a custom-tailored loan solution that will help the borrower to stabilize the property.
• The property was undergoing initial lease-up and the borrower was looking for a loan structure that would facilitate the remaining lease-up to stabilize the property. It also includes a three-year term with an additional two (2) 12-month extension options.
• The borrower was looking for certainty of execution because they had leasing momentum and needed a lender that would close with a custom-tailored loan solution to maintain the momentum.
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