- Loan Amount: $7,265,000
- Loan Term: 3 YR
- LTV: 70%
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.
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