Multifamily Property In Lexington, KY

Loan Type:
Bridge Loan
Loan Amount:
$3,300,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Recourse
LTV:
73%

Challenges

• The borrower was trying to refinance out of a higher interest loan.
• The borrower was trying to get a loan as a Class C property.

Solutions

• Money360 took the time to get comfortable with the deal and were able to structure the loan that allowed the borrower to get the deal funded quickly.
• The deal structure enables the borrower to rehab the property to get higher rents once the property has been rehabbed.
• The borrowers plan to stabilize the property over the next couple years and get agency financing.
• Money360 provided a lower rate than their current lender

Related Deals

Subscribe to Our Newsletter

Stay up to date on the latest CRE news and trends