- Loan Amount: $4,470,000
- Loan Term: 2 YR
- LTV: 69%
Bridge Loan For Office Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 YR
- Interest Only
• In addition to understanding the challenges of a smaller market (Akron), how this project would compete against other office space options, both in the CBD as well as suburbs, we were dealing with a borrower who is top 1% sophisticated, savvy, experienced, and demanding.
• A challenge was making sure the sponsor and his team believed Money360 could and would deliver for them – what they expected and when they expected it. This sponsor expects no hiccups – its stature and its projects prove that out. Its success affirms that statement. We were challenged with a complex assignment – physically and structurally – and a legitimate competitor for the business.
• Money360 capitalized on the relationship with the broker who’s advice to the borrower carried weight. Our management took the time to understand the deal as well as meet the lead principal face to face. We did what we said we would do, and now we have one more piece to go.
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