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.