)
Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
12/09/2020
Property Type
Retail
Property City
Essex County
Property State
MD
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
50%
Deal Summary
Commonwealth Capital, a company that helps businesses and investors access real estate-secured capital, funded a $1,800,000 bridge loan in 1st lien position secured by a retail property in Essex County, MD. Our loan-to-value was 50% as-is. The cash-out refinance will allow the property owner to pay off the existing financing, pay closing costs and provide working capital to stabilize the retail property. The loan term was set at 24 months. This equity cash-out loan was funded in December 2020.
Funded By
Commonwealth Capital
Direct Bridge Lending for Real Estate Owners