Office Property In Albuquerque, NM

Loan Type:
Bridge Loan
Loan Amount:
$8,000,000
Loan Term:
3 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
75%

Challenges

• The borrower wanted to refinance out of his bank line of credit, cash out, and use some of those proceeds for his next acquisition.
• This loan was secured by a single tenant, 72,100 square foot office building in Albuquerque, New Mexico. It is 100% occupied.

Solutions

• Money360 loan allowed the borrower to free up capital for this Cash-out refinance.
• We were conformable doing so because of our relationship with the borrower, the tenant is a credit tenant in a good market, and it fit our current underwriting guidelines.

Peter Breen

Money360

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