Bridge Loan For Retail Property

Loan Type:
Bridge Loan
Loan Amount:
$23,000,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
70%

Challenges

• Our borrower was looking for a lender that would take the time to understand this opportunity. Understanding the local market and providing the right loan structure will allow the borrower to successfully execute their business plan.

• The center had fallen into disrepair from owner neglect and the city of Christiansburg was desperate to identify a new source of capital willing to give new life to this major component to the local retail scene.

Solutions

• Money360 had the solution. We were persistent, taking the time to understand the ever-changing plan and adjusting our underwriting as needed. This would not have happened without the diligence and patience of the experienced Money360 credit team, underwriting team and senior management.

Nicolas Jans

Money360

View Bio

Related Deals

Subscribe to Our Newsletter

Stay up to date on the latest CRE news and trends