Bridge Loan For Mixed-Use Property

Loan Type:
Bridge Loan
Loan Amount:
$13,100,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
70%

Challenges

• The borrower was facing a maturity default and needed a rate/term refinance on this 16,239 square foot mixed-use building in Los Angeles CA.
• The borrower needed more time in order to complete the entitlement process.
• Short term and month to month leases.

Solutions

• Surety of execution was very important to the borrower. Money360’s track record of closing loans with the broker gave the borrower the peace of mind we would refinance their loan as promised.
• Creative underwriting provided maximum proceeds based on income in place.

Ken Gaitan

Money360

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