- Loan Amount: $8,595,000
- Loan Term: 3 YR
- LTV: 58.8%
Mixed-Use Property In Indianapolis, IN
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 2 YR
- Interest Only
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.
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.
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