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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
08/20/2018
Property Type
Property City
San Antonio
Property State
TX
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
55%
Interest Rate
11.99%
Deal Summary
Carlyle Capital, a private money lender, funded a $29.5 million 1st lien position multi-family and single-family land development loan for a commercial property in San Antonio, Texas. This was a land servicing loan in which the developer had secured sales of parcels to various national homebuilders. The additional capital needed allowed the developer to refinance the current debt and provide funds to be used toward final engineering and permitting. The lender had strong development experience with similar projects as well as provided a solid exit strategy. The interest rate was 11.99%, LTV was 55%, and the loan term was 24 months. Carlyle Capital was able to quickly close the entire deal in a 3-week period. This CRE bridge loan was funded in August 2018.
Funded By
Carlyle Capital
Reliable lending for residential, multifamily, and commercial projects.