$21 Million Loan | Office Property | Frisco, TX | Money360

Bridge Loan For Office Property

Loan Type:: Bridge Loan
Loan Amount:: $21,450,000
Loan Term:: 2 YR

Amortization:: Interest Only
Recourse:: Non-Recourse
LTV:: 75%

Challenges

• Tapped out with existing lender but needed additional capital to build out next phases of the subject development.
• Maturing Loan
• Needed flexible loan structure

Solutions

• Newly constructed, high-quality multi-tenant office, Frisco, TX – Construction loan take- out included future funding for TI/LC. Strong location on the Dallas North Tollway proximate to the STAR (home of the Dallas Cowboys) mixed use complex. Project is in lease-up, flexible underwriting and certainty were keys to winning the deal.
• On this loan, Money360 provided a structure with initial loan proceeds sufficient to pay-off the existing construction loan and provided future funding for interest reserve and TI/LC’s. The borrower needed to free up additional borrowing capacity with his local relationship bank in order to continue building out the master-planned mixed use project. The loan was secured by a newly constructed, 90,000 square foot office building located in Frisco, TX.

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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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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