Bridge Loan for Office Property

Loan Type:
Bridge Loan
Loan Amount:
$15,235,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
53%

Challenges

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.

Solutions

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.

Ken Wood

Money360

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