- Loan Amount: 3,700,000
- Loan Term: 1 YR
- LTV: 74.1%
Bridge Loan For Office Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 2 YR
- Interest Only
The borrower was facing a loan maturity and needed a flexible loan structure that included additional proceeds for tenant improvements.
A second lease was signed with an additional tenant, but the borrower needed CapEx funds for parking area improvements, roof
replacement, and to pay for lease-up costs. Needed proceeds for TIs for the second tenant. Property improvements CapEx and debt service reservers
Parking renovation and 6 months rent abatement. Historically it has been fully occupied.
Money360 provided a refinance loan on a one story 85,833 SFR&D industrial building in Ann Arbor, MI. The borrower was facing a loan
maturing and certainty of execution was very important to the borrower. The borrower felt much better closing with us knowing we would
get the deal done.
We also provided flexible loan structure that paid off their existing lender with additional proceeds for CapEx and tenant improvements.
Our loan structure enabled the borrower to continue operating and improve their property while they leased up the property
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