$23.15 Million | Office
- Loan Amount: $23,150,000
- Loan Term: 36 Months
- LTV: 75%
• 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.
• 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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