Multifamily Property In Memphis, TN

Loan Type:
Bridge Loan
Loan Amount:
$5,000,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
69%

Challenges

• The purpose of this loan is to provide cash-out refinance money on a 436-unit multifamily property in Memphis, TN to pay off their current note that is maturing at the end of this year.
• The borrower also needed additional funds to renovate several units.

Solutions

• Money360 provided capital to pay off the existing lender and additional capital for renovations.
• Surety of execution and trust were very important to the borrower.
• Money360 provided a flexible loan structure that provided capital for renovations.

Ken Wood

Money360

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