Bridge to Perm financing for vacant industrial building
Finance Amount: $8,800,000
70% LTV, 65% LTC; $7.7M initial funding with $1.1M TI/LC. 3 year bridge term then to 5- or 7-year perm option. Libor+250bps during bridge then Libor+200 fixed.
Woodland Hills, CA
Value Add Financing