• Loan Type: Bridge
  • Loan Amount: $4,730,000
  • Term: 2 Years
  • Amortization: Interest Only
  • Recourse: Non-recourse
  • LTV: 69%

Challenges

The purpose of this loan is to provide cash-out refinance money on a 436-unit multifamily property in Memphis, TN to pay off their current note that is maturing at the end of this year. The borrower also needed additional funds to renovate several units.

Solutions

Money360 provided capital to pay off the existing lender and additional capital for renovations. Surety of execution and trust were very important to the borrower. Money360 provided a flexible loan structure that provided capital for renovations.

Bridge Loans

Money360 is a direct lender and can create custom bridge loan solutions to finance transitional or unstabilized properties throughout the United States.

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Permanent Loans

Money 360’s permanent loan program provides flexible, long-term financing at competitive rates and terms for stabilized commercial real estate throughout the United States.

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Why Money360?

  • Money360 is a Direct Lender
  • In-house Credit Approvals
  • Letters of Intent in 2-3 days
  • Funding in 3-5 weeks
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