- Loan Amount: $7,265,000
- Loan Term: 3 YR
- LTV: 70%
Bridge Loan For Office Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 2 YR
- Interest Only
• Borrower had to solve for the upcoming loan maturity and the high interest rate.
• Flexible prepay was also important to the borrower.
• This Class A 117,518 square foot office building will be repositioned to multi-tenant after the former single tenant moved out. Funds for CapEx, Tenant Improvements and Leasing Commissions (TI/LC’s) are required to execute the business plan.
• The Money360 flexible structure (for CapEx & TI/LC’s) will facilitate the borrower harvesting value through new leasing.
• Quick closing mitigated the maturity default and provided a lower cost of capital which will enhance the yield to the borrower.
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