Deal Status

Active

Property Address

1526 Holmes Road

Ypsilanti, Michigan

48198

Requested Loan Amount

500000

Loan to Value

36

Loan Term

12

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Sale of Another Property

Commercial Property Type

Retail

Retail Property Types

Gas Station

Cannabis Business

No

Number of Units

1

Current Occupancy

Tenant Occupied

Current Occupancy Percentage

100

Loan Type

Refinance

Square Footage

30492

Current Market Value

1400000

Equity Cash Out

Yes

Equity Cash Out Purpose

Business Working Capital

Equity Cash Out Details

Funds will be used to invest in existing operations and for additional ancillary revenue streams. Funds will also be used as working capital. We expect to be able to repay funds within 12 months and possibly within 6 months.

Appraisal

No

APN Parcel ID

11-02-326-001

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Not Applicable

Comments

Available pictures and documents will be provided upon request.

First Name

Wael

Last Name

Reda

Company

1526 Holmes LLC

Role

Borrower

Location

Ypsilanti
Michigan
USA