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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
03/01/2020
Property Type
Motel
Property City
Montgomery County
Property State
PA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Commonwealth Capital, a direct private lending firm, funded a $750,000 1st lien position bridge loan for the acquisition of a motel in Montgomery County, PA. The real estate developers used their flagged motel as collateral to complete renovations on an adjacent property. The loan term was set at 1 year. This bridge loan was funded in March 2020.
Funded By
Commonwealth Capital
Direct Bridge Lending for Real Estate Owners