- Loan Amount: $23,150,000
- Loan Term: 36 Months
- LTV: 75%
Bridge Loan For Office Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 YR
- Interest Only
• Borrower was being pressured by a local bank to move the loan with an imminent maturity.
• Restabilizing property after liquidity crunch. The cash reserves were used for tenant improvements and real estate taxes.
• Flexible loan structure needed to properly execute business plan.
• Money360 was timely in its efforts, flexible in its thinking (especially when it came to re-working TI/LC allowances to meet a changing market), and creative when it came down to putting the Sources & Uses puzzle together to work for the borrower.
• Money360 met face to face with the borrower and broker to inspect the collateral and discuss terms.
Subscribe to Our Newsletter
Stay up to date on the latest CRE news and trends