Deal Status

Active

Property Address

11 E Hallowell Lane

Nantucket, Massachusetts

02554

Requested Loan Amount

6750000

Loan to Value

57

Loan Term

36

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Refinance

Property Type

Single Family Residence

Number of Bedrooms

5

Number of Bathrooms

3

Property Occupied

No

Loan Type

Purchase, Rehab Fix & Flip

Property Sq. Footage

2796

Renovation Cost Estimate

500000

Renovation Description

Clients are acquiring waterfront property at a deep discount from market value in Nantucket. Property just appraised at $13.25MM. Client wants a bridge loan to secure property at $6.75MM then rehab and flip the property.

Renovation Budget

Yes

Future Value

13250000

Future Loan to Value

51

Renos Completed

5

Contractor

No

Team Ready

Yes

Lot Size

1.01

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Additional Attachments

h

First Name

Pedro

Last Name

Marrero

Company

Engel & Voelkers

Role

Mortgage Broker

Location

Orando
Florida
USA