Deal Status

Active

Property Address

3230 Possum Run Rd

Masfield, Ohio

44903

Requested Loan Amount

750000

Loan to Value

27

Loan Term

60

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Sale of Subject Property

Commercial Property Type

Hospitality

Hospitality Property Types

Limited Service Hotel

Number of Units

23

Current Occupancy

Tenant Occupied

Current Occupancy Percentage

80

Loan Type

Refinance

Existing Mortgages

  • 1st

Equity Cash Out

Yes

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

Principal $75k of the funds to spruce and reinvest into the facility. Principal wants to paint the exterior and interior of the facility and the units. He also wants to invest into general maintenance and updates of the facility. LTV 24%

Appraisal

No

Lot Size

28

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

First Name

Pedro

Last Name

Marrero

Company

Engel & Voelkers Orlando Downtown

Role

Mortgage Broker

Location

Orlando
Florida
USA