$12.65 Million | Multifamily
- Loan Amount: $12,645,000
- Loan Term: 24 Months
- LTV: 70%
• 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.
• 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.
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