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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