Bridge Loan For Office Property

Loan Type:
Bridge Loan
Loan Amount:
$17,995,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
75%

Challenges

• 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.

Solutions

• 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.

Related Deals

Subscribe to Our Newsletter

Stay up to date on the latest CRE news and trends

Our site uses cookies. By continuing to use our site, you are agreeing to our Privacy Policy

Ok, I understand