Office Property In Albuquerque, NM

Loan Type:
Bridge Loan
Loan Amount:
$8,000,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
75%

Challenges

This is a single tenant, 72,100 square foot office building in Albuquerque, New Mexico. It is 100% occupied. The borrower wanted to refinance out of his bank line of credit, get cash out, and use some of those proceeds for his next acquisition.

Solutions

Money360 loan allowed the borrower to free up capital for this Cash-out refinance. We were conformable doing so because of our relationship with the borrower, the tenant is a credit tenant in a good market, and it fit our current underwriting guidelines.

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