- Loan Amount: $19,000,000
- Loan Term: 24 Months
- LTV: 68%
Bridge Loan For Multifamily Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 1 YR
- Interest Only
• Borrower needed a rate/term refinance loan.
• Borrower was facing a maturing loan on a 112 unit, 82,432 square foot multifamily property in Memphis, TN.
• In addition to paying off the current lender, the borrower required proceeds for tenant improvements in order to properly execute their business plan.
• Money360 was able to pay off the existing lender and provide funding for capital expenditures and tenant improvments/leasing commissions(TI/LC).
• Money360 has a longstanding relationship working with this broker who trusted we would execute with a timely close.
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