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

Need for higher proceeds and a loan that had already matured. They were trying not to incur penalties. Provided cash out for property improvements including TI/LCs. Speed and certainty. They wanted to close quick.

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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