Bridge Loan For Office Property

Loan Type:
Bridge Loan
Loan Amount:
$15,000,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
75%

Challenges

• The borrower needed to payoff their construction loan and stabilize the property, which was only 20% occupied.
• The borrower completed construction on brand new 50,000 square foot, Class A medical office buildings located in Voorhees, NJ and required capital for TI/LC’s (Tenant Improvements & Leasing Commissions).

Solutions

• Money360 provided initial loan proceeds to refinance existing debt and additional capital for CapEx and TI/LC’s.
• Money360 provided a custom tailored & flexible loan structure to fit the borrower’s needs. This accommodation allowed the borrower to move forward with one major tenant in place prior to closing.

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