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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
07/17/2018
Property Type
Industrial
Property City
Columbus
Property State
OH
Lien Type
1st Mortgage
Payment Type
Interest Only
Exit Strategy
Refinance
Borrower Credit Rating
Poor
Deal Summary
Archway Fund, a direct private lender based in LA, provided a $2.1MM 1st lien position refinance and cash-out loan secured by a large industrial warehouse in Columbus, Ohio. The Borrower required a quick closing to accommodate a partner buyout. They decided to use private money due to their low credit score and delinquent taxes. Also, they needed some cash out to help fix their finances. The exit strategy is to refinance once personal finances are improved. This CRE refinance bridge loan was funded in July 2018.
Funded By
Archway Capital
National Non-Recourse Bridge Loan & Equity Provider