Bridge Loan For Multifamily Property

Loan Type:
Bridge Loan
Loan Amount:
$3,000,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
73%

Challenges

• The borrower needed an acquisition loan to purchase an unstabilized 54-unit multifamily property in Detroit, MI.
• As part of their business plan, they needed capital to stabilize the property in order to qualify for agency financing.

Solutions

• We understood the borrower’s business plan and created a flexible loan structure that provided acquisition capital and Capex funds used to stabilize the property.

Stratos Athanassiades

Money360

View Bio

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