- Loan Amount: $5,250,000
- Loan Term: 3 YR
- LTV: 56%
Bridge Loan For Office Property
- Loan Type:
- Bridge Loan
- Loan Amount:
- Loan Term:
- 3 YR
- Interest Only
• The borrower had a maturing loan and needed to pay the bank.
• The borrower was looking to convert part of an existing fitness facility into profitable office space due to high demand in a this market.
• The sponsors wanted to increase revenue by leasing the new office space.
• Money360 provided a bridge loan for a maturing loan on a 2-story, 66,868 square foot multi-tenant office building.
• Money360 provided enough initial funding to pay off the maturing loan and ample funds for the both the conversion into office space and TI/LC for the new tenants.
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