Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
09/23/2020
Property Type
Agricultural
Portfolio of Residential Properties
Single Family Residence
Property City
Schuylkill County
Property State
PA
Loan Term (months)
24
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
20%
Deal Summary
Commonwealth Capital, a company that helps businesses and investors access real estate-secured capital, funded a $450,000 equity cash-out line of credit loan in 1st lien position secured by a farm and a portfolio of residential properties in Schuylkill County, PA. Our loan-to-value was 20%. The funds will be used to renovate properties for lease-up and as working capital. The Borrower was a farm operator and real estate developer. The loan term was set at 24 months. This equity cash-out loan was funded in September 2020.