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.

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