)
Deal Details
Private Loan Type
Refinance
Approx. Funding Date
01/10/2020
Property Type
Industrial
Property City
Ogden
Property State
UT
Lien Type
1st Mortgage
Payment Type
Interest Only
Debt Service Coverage Ratio
1.3
Deal Summary
Newport Commercial Capital, a direct CRE lender, funded a $980,000 1st lien position private money loan secured by a 5-parcel, 2-commercial warehouse property in Ogden, UT. The buildings are currently operating at a negative DSCR and Cap rate while the Borrower rehabs one of the buildings. Upon completion of the rehab work, the property will operate at a 7% Cap and a 1.3 DSCR. This CRE private money loan was funded in January 2020.
Funded By
Newport Capital
Easy, reliable, on-time funding that you can count on.