Bridge Loan For Office Property

Loan Type:
Bridge Loan
Loan Amount:
$7,000,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
70%

Challenges

• The borrower was looking to refinance their current loan and needed additional proceeds for tenant improvements and leasing costs.
• The building was only 56% occupied.
• This deal required a lender that understood the business plan and had confidence the sponsor could successfully execute.

Solutions

• We provided a cash-out refinance loan with a flexible structure that provided the sponsor the flexibility they needed to lease up this 81,000 square foot, Class A office building located in Frederick, MD.
• Surety of execution was vital to the sponsor, they trusted that Money360 would close as promised.

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