Deal Status

Active

Property Address

721 Morrow Road, Forest Park Georgia

Requested Loan Amount

$752,500

Loan to Value

70%

Loan Term

24 months

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Collateral and Loan Details

Commercial Property Type

Other

Specialty Property Types

Religious Facility

Number of Units

3

Current Occupancy

Tenant Occupied

Current Occupancy Percentage

85

Loan Type

Acquisition

Square Footage

31,787

Has property been located?

Yes

Purchase Price

$1,075,000

Purchase Contribution

$322,500

Purchase Contribution Source

Own Cash

Purchase Plan

Continue Rental (property is tenant-occupied)

Lot Size

8.10 acres

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Property Photos

Attachments

Comments

Client is seeking to acquire a Church property with three buildings, totaling 31,787 s.f. in Forest Park, GA. Client has over 23 years experience in developing and re-developing various real estate assets. Their current holdings include a parking lot that services Yankee Stadium, a Laundromat, Catering hall, and daycare center.

First Name

Matthias

Last Name

Mogensen

Phone Number

(631) 352-9047

Role

Mortgage Broker

Location

Orlando, Florida

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