Deal Status

Active

Property Address

9950 PORTAGE RD

PORTAGE, Michigan

49002

Requested Loan Amount

400000

Loan to Value

49

Loan Term

30

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Industrial

Industrial Property Types

Industrial Business Park

Cannabis Business

No

Number of Units

1

Current Occupancy

Owner Occupied

Current Occupancy Percentage

100

Loan Type

Refinance

Square Footage

16000

Current Market Value

815000

Existing Mortgages

  • 1st

Mortgage 1 Balance

338000

Equity Cash Out

Yes

Equity Cash Out Purpose

Business Working Capital

Equity Cash Out Details

PAY OUT CLOSING COSTS AND INJECT BALANCE INTO EQUIPMENT PURCHASE

Appraisal

Yes

APN Parcel ID

00026-041-0

Lot Size

1.83

Will additional properties be collateralized?

No

Borrower Entity

Individual(s)

Borrower Credit Rating

Excellent

Additional Attachments

9

Comments

9950 PORTAGE IS 10,080 SQ FT AND 4900 E FULTON 5500 SQ FT OF OFFICE AND WAREHOUSE SPACE

First Name

Tom

Last Name

Kim

Company

Commercial Loan Group LLC

Role

Mortgage Broker

Location

GRAND RAPIDS
Michigan
USA