Deal Status

Active

Property Address

5450 Coca Cola Rd, Mobile AL 33695

mobile, Alabama

33695

Requested Loan Amount

1.8

Loan to Value

60

Loan Term

18

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Hospitality

Hospitality Property Types

Full Service Hotel

Number of Units

108

Current Occupancy

Vacant

Current Occupancy Percentage

80

Loan Type

Refinance

Current Market Value

3.8

Equity Cash Out

Yes

Equity Cash Out Purpose

Business Working Capital

Equity Cash Out Details

Use of Funds – pay off first lien, small capx, Closing costs, capital reserves

Appraisal

Yes

Appraisal Date

08/05/2019

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

First Name

Lance

Last Name

Malone

Company

Malone Financial

Role

Mortgage Broker

Location

Dallas
Texas
USA