Bridge Loan For Retail Property

Loan Type:
Bridge Loan
Loan Amount:
$12,500,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Springing
LTV:
68.4%

Challenges

• The borrower had a need for higher proceeds and a loan that had already matured.
• The borrower didn’t want to incur penalties.
• The borrower needed financing for property improvements including tenant improvements/leasing commissions.
• The borrower was looking for speed, certainty and a quick close.

Solutions

• On a recent deal, Money360 was able to quickly close our borrower’s loan by resourcefully utilizing reports from previous lenders, which enabled him to avoid incurring penalties.
• The loan was secured by a 121,070 square foot retail building in Lake Charles, Louisiana.

Steve O'Shaughnessy

Money360

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