Office Property In South Bend, IN

Loan Type:
Bridge Loan
Loan Amount:
$5,000,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
67%

Challenges

• Single tenant with a short time left on lease. They were going to do some fix-up to get the tenant to sign a long term lease. • Needed specific loan amount that covered all costs and put some money away for Capex. • Speed was key. Every day was costing them money because their loan matured.

Solutions

•We executed a quick closing in a difficult situation and met borrowers needs.

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