Office Property In Houston, TX

Loan Type:
Bridge Loan
Loan Amount:
$16,000,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Recourse
LTV:
74%

Challenges

• The borrower’s property was effected by a hurricane, they needed to pay off an existing loan, and re-lease the space to new tenants.
• They also needed TI’s to get tenants back in the office space.

Solutions

• We provided the borrower the right amount of proceeds to pay off existing debt, complete construction, do the tenant improvements, and market the space to get it re-leased.
• We were able to close in the borrowers time frame. Trust factor and surety of execution were very crucial to this closing.

Related Deals

Subscribe to Our Newsletter

Stay up to date on the latest CRE news and trends