Bridge Loan for Medical Office Building Acquisition in Tampa, Florida

Funded by Archway Capital

$8,150,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

08/30/2019

Property Type
Healthcare
Office
Property City

Tampa

Property State

FL

Loan Term (months)

12

Lien Type

1st Mortgage

Loan-to-Value

65%

Occupancy at Closing

Partially Occupied

Interest Rate

8.5%

Origination Points

2%

Deal Highlights

Archway closed the deal in 9 days.
As with almost all of our deals, the Sponsor did not have to personally guarantee the loan.
65% LTV, 8.5% interest only fixed, & 12 month-term with 3 months guaranteed interest.

Deal Summary

Archway Fund, a direct private mortgage lender, financed an $8.1M 1st lien position non-recourse bridge loan for the purchase of a medical office building in Tampa, FL. The property was 86% occupied, and the largest tenant is the US Air Force, which had recently executed a long-term lease. The Sponsor was working with a credit union to secure financing for the purchase, but they could not close in time. Archway stepped in and closed the deal in 9 days. The interest rate on this bridge loan was fixed at 8.5%. We charged an origination fee of 2 points. The LTV was 65%, and the loan term was 12 months with 3 months of guaranteed interest. As with almost all of our deals, the Sponsor did not have to personally guarantee the loan. This bridge loan was funded in August 2019.

Funded By

Archway Capital

National Non-Recourse Bridge Loan & Equity Provider