Bridge Loan for Medical Office Building in Essex County, New Jersey

Funded by Commonwealth Capital

$2,000,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

02/01/2019

Property Type
Healthcare
Office
Property City

Essex County

Property State

NJ

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Deal Summary

Commonwealth Capital, a direct private lending firm, funded a $2,000,000 1st lien position bridge loan for the acquisition of a medical office building in Essex County, NJ. We also refinanced the brand-new, class-A medical building with tenancy issues based on the asset value and strength of the personal guarantors. The loan term was set at 1 year. This bridge loan was funded in February 2019.

Funded By

Commonwealth Capital

Direct Bridge Lending for Real Estate Owners