Bridge Loan For Industrial Property

Loan Type:
Bridge Loan
Loan Amount:
$27,522,500
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
75%

Challenges

• 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.

Solutions

• 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.

Nicolas Jans

Money360

View Bio

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