Bridge Loan For Office Property

Loan Type:
Bridge Loan
Loan Amount:
$17,995,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
75%

Challenges

• Borrower had to solve for the upcoming loan maturity and the high interest rate.
• Flexible prepay was also important to the borrower.
• This Class A 117,518 square foot office building will be repositioned to multi-tenant after the former single tenant moved out.
• Funds for CapEx, Tenant Improvements and Leasing Commissions (TI/LC’s) are required to execute the business plan.

Solutions

• The Money360 flexible structure (for CapEx & TI/LC’s) will facilitate the borrower harvesting value through new leasing.
• Quick closing mitigated the maturity default and provided a lower cost of capital which will enhance the yield to the borrower.

Ken Gaitan

Money360

View Bio

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