- Loan Amount: $19,995,000
- Loan Term: 2 YR
- LTV: 63.3%
Retail Property In Irmo, SC
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 2 YR
- Interest Only
• This was a purchase loan where the borrower didn’t have enough money coming in to meet its debt service.
• A new anchor tenant was just coming online.
• The Buy Low vacated that anchor tenant spot and a fitness center took its place. They were in the middle of doing TI, but not paying rent.
• It was not stabilized.
• We provided a great loan structure.
• We spoke with the borrower and asked them what they needed. Once we understood the opportunity, we were able to provide the right structure to get the loan funded.
• The borrower gave us their issues so we could structure around them.
• Money360 structured the deal that created an interest reserve to make sure debt service was covered as part of the flexible deal structure.
Subscribe to Our Newsletter
Stay up to date on the latest CRE news and trends