Bridge Loan For Mixed-Use Property

Loan Type:
Bridge Loan
Loan Amount:
$13,200,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
75%

Challenges

• This repeat borrower was facing a loan maturity and was looking to refinance in order to achieve their business plan. Speed was important.
• The borrower was looking for CapEx funding to finish construction on this 148,000 square foot mixed-use property in order to stabilize the entire portfolio.

Solutions

• Money360 closed quickly and took out the loan with the previous lender to reduce our borrower’s rate.
• Money360 provided a cash out refinance loan with money held back for CapEx, which allowed our borrower to move forward, stabilize his portfolio and execute his business plan.

Ken Wood

Money360

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