- Loan Amount: $4,050,000
- Loan Term: 3 YR
- LTV: 75%
Bridge Loan For Industrial Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 YR
- Interest Only
• The borrower was in a difficult situation with its in-place lender due to a number of factors, including gaining timely access to future funding dollars needed to lease its brand new vacant space.
• The collateral, two new Class A, side by side warehouse buildings totaling 231,000 square feet that were 50% leased with pending leases needing access to TI and lease commission dollars.
• Money360 took time to understand the borrower’s business plan and the reasons behind its challenges with its existing lender, and with that understanding, was able to craft a workable solution and meet critical timing deadlines for the borrower.
• Through its due diligence, we saw this borrower as a strong sponsor who allowed us to move forward with confidence that with the right lender, the borrower would be successful.
• Expert, effective underwriting that led to smooth processing and closing.
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