Deal Status

Active

Property Address

Elk City

Elk City, Oklahoma

73644

Requested Loan Amount

499000

Loan to Value

52

Loan Term

24

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Hospitality

Hospitality Property Types

Limited Service Hotel

Number of Units

48

Current Occupancy

Tenant Occupied

Current Occupancy Percentage

100

Loan Type

Refinance

Square Footage

17250

Current Market Value

950000

Existing Mortgages

  • 1st

Mortgage 1 Balance

499000

Equity Cash Out

No

Equity Cash Out Purpose

Invest in a Business

Equity Cash Out Details

The borrower is using the funds to pay a loan that is due.

Appraisal

Yes

Appraisal Date

08/01/2019

Lot Size

5

Will additional properties be collateralized?

No

Borrower Entity

Corporation

Borrower Credit Rating

Good

Comments

The property makes $28,936 per month easy debt service ratio. Fund directly into the insuring title company with 125% ALTA policy.

First Name

Samuel

Last Name

Wolobah

Company

GG - Consulting LLC

Role

Consultant

Location

Elk City
Oklahoma
USA