Mixed-Use Property In Indianapolis, IN

Loan Type:
Bridge Loan
Loan Amount:
$6,000,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
62%

Challenges

The borrower had a Unique opportunity to purchase their current loan at par. They were also looking for additional TI money to do tenant improvements for a lease they had in hand.

Solutions

Money360 provided a loan that allowed the sponsor to payoff their current lender and provide the TI’s needed for a tenant that is moving in and for additional leasing.

The property was initially used as a retail, but the sponsor needed the TI funds for the changing property type to the medical/office tenant. We provided more TI dollars because we understood the need to make this change. To sum it up, it is a Retail to Mixed-Use Medical Office conversion.

Stratos Athanassiades

Money360

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