- Loan Amount: $9,455,000
- Loan Term: 3 Years
- LTV: 75%
Bridge Loan For Multifamily Properties
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 Years
- Interest Only
• Our borrower was looking to purchase two multifamily properties, totaling 393-units, in Montgomery, Alabama. They were looking to renovate the units and to increase occupancy since more than 1/3 of the units had been vacant for more than a year.
• They needed a lender that was willing to take the time to understand the condition of each building and structure a loan that would allow them to fully execute their business plan.
• The borrower was looking for certainty of execution with this purchase.
• We took the time to understand our borrowers needs and created a flexible loan structure that provided the borrower capital for Capex and unit renovations so they would be able to lease up the units.
• We worked with the borrower through the entire purchase process and gave them the peace of mind we would execute as promised.
• We were comfortable with the sponsor’s experience and knew that we could help them successfully execute their business plan.
Subscribe to Our Newsletter
Stay up to date on the latest CRE news and trends