Bridge Loan For Office Property

Loan Type:
Bridge Loan
Loan Amount:
3,700,000
Loan Term:
1 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
74.1%

Challenges

The borrowers loan was maturing and the lender was no longer doing these types of loans or lending on this type of asset and they were not willing to extend. The borrower had a hard maturity date. They needed more time to sell the property. Needed time to sell. The bridge loan allowed that

Solutions

We were able to get comfortable with the ground lease and provided certainty of execution for the borrower. Speed was also very important to the borrower and we provided that.

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