Property Address

55 Exchange Blvd., Rochester, NY 14614 Rochester, New York 14614

Requested Loan Amount

$$21,370,000

Loan to Value

61

Loan Term

24

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Collateral and Loan Details

Commercial Property Type

Mixed-Use

Unit Mix Multifamily

85

Unit Mix Industrial

200

Unit Mix Office

17

Unit Mix Other

42

Number of Units

85

Current Occupancy

Vacant

Loan Type

Refinance

Square Footage

153350

Current Market Value

13462000

Equity Cash Out

No

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

Renovation of existing building. The property is owned free and clear.

Appraisal

No

APN Parcel ID

261400-121-300-0001-030-000-0000

Lot Size

1.1

Property Photos

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Additional Attachments

h

Comments

There is an opportunity to refinance this property into a permanent loan after stabilization. Also there are $8,685,000 Tax Credits available.

First Name

Dale

Last Name

King

Phone Number

315-439-0200

Company

Cornerstone Associates, LLC

Role

Mortgage Broker

Location

Bluffton South Carolina USA

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