$5.64 Million | Mixed-Use
Baltimore, MD
- Loan Amount: $5,635,000
- Loan Term: 3 Years
- LTV: 67%
Bridge Loan For Mixed-Use Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- $9,500,000
- Loan Term:
- 3 YR
- Amortization:
- Interest Only
- Recourse:
- Non-Recourse
- LTV:
- 74%
Challenges
• Our borrower was looking to simultaneously refinance an existing loan and close the sale on another property. Due to the sale, they needed to bifurcate the financing.
• Surety of execution was paramount as completion of the loan was necessary for the borrower to move forward with their business plan.
Solutions
• Money360 provided a Rate / Term refinance loan, fully funded at closing.
• We were able to execute within the borrower’s timeline and close in a timely manner coinciding with the sale of their other building.
• This loan was secured by a 25-unit, 35,000 square foot mixed-use office/multifamily property located in Norwalk, CT.
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