Deal Status

Active

Property Address

2 Lee St, Mt. Holly New Jersey 08060

Requested Loan Amount

$1,000,000

Loan to Value

75%

Loan Term

12 months

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Collateral and Loan Details

Commercial Property Type

Multifamily

Multifamily Property Types

Mobile Home Park

Number of Units

29

Current Occupancy

Tenant Occupied Partial

Current Occupancy Percentage

59

Loan Type

Acquisition and Value-Add

Renovation Cost Estimate

$610,000

Renovation Description

- Demolish 9 current residential homes not producing rents and add 6 utility meters. - Add newer mobile homes that will be sold to new owner-occupants via Lease-To-Own purchase modeling. - Update landscaping and road paving inside the park.

Renovation Budget

Yes

Future Loan to Value

53%

Renos Completed

4

Contractor

No

Team Ready

Yes

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Good

Comments

Please contact me if you have any concerns or interest. Thank you for looking over this deal's details.

First Name

Tony

Last Name

Dixon

Phone Number

(877) 495-6267

Company

T-Square Lending

Role

Mortgage Broker

Location

Ypsilanti, Michigan

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