- Loan Amount: $19,920,000
- Loan Term: 3 YR
- LTV: 59%
Bridge Loan for Office Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 2 YR
- Interest Only
• The borrower needed funds for tenant improvements but was unable to access them with their current loan.
• Without access to the TI funds, he was having a hard time getting potential tenants to sign LOI’s.
• The borrower needed a lender that would provide a flexible loan structure that would allow him access to the tenant improvements funds needed to execute his business plan.
• Money360 provided a cash-out refinance for the borrower’s four-story office/retail building and a two-story annex building that paid off his existing lender and provided additional funds for tenant improvements and CapEx.
• The borrower had confidence in Money360 that we would close this loan on schedule.
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