Deal Status

Active

Property Address

1250 & 1256 OLD GILLIARD ROAD

RIDGEVILLE, South Carolina

29472

Requested Loan Amount

475000

Loan to Value

50

Loan Term

360

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Retail

Retail Property Types

Street Retail

Cannabis Business

No

Number of Units

10

Current Occupancy

Tenant Occupied Partial

Current Occupancy Percentage

70

Loan Type

Refinance

Square Footage

9100

Current Market Value

950000

Existing Mortgages

  • 1st

Mortgage 1 Balance

350000

Equity Cash Out

Yes

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

IMPROVE SUBJECT PROPERTY & ADD WORKING CAP, 2 BUILDINGS WITH 5 UNITS IN EACH.

Appraisal

Yes

Appraisal Date

12/10/2018

APN Parcel ID

156.00.02.064

Lot Size

3.09

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Average

Comments

CLIENT IN BK13, SOUTH CAROLINA COMMUNITY BANK HAS MORTGAGE AT $315000, WANTS TO WORK WITH CLIENT, CAN EXPLAIN BK13, CREDIT SCORES 654, 631, 601, REFI TO PAY OFF NEW MORTGAGE HOLDER. ONE UNIT IS A CONVENIENCE STORE WITH GAS PUMPS

First Name

EVERETT CAROLINA

Last Name

CAROLINA

Company

JACINEZ HOLDINGS LLC

Role

Mortgage Broker

Location

GEORGETOWN
South Carolina
USA