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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
08/16/2021
Property Type
Property City
Bishop
Property State
GA
Lien Type
1st Mortgage
Loan-to-Purchase Price
56%
Property Value
$2,489,339
Loan-to-Value
34%
Lot Acreage
190
Deal Summary
In August 2021, Commercial Capital BIDCO funded a cash-out refinance bridge loan secured by a recently-purchased 18-hole luxury golf course located in Bishop, Georgia. The Borrower needed funds to purchase maintenance equipment for the course as well as working capital for the next year of operation. As of 2020, the tax card valued the property at $2,489,339. Therefore, our $840,000 bridge loan’s loan-to-value is just under 34%. Based on the price that the golf course was recently purchased for, our loan-to-purchase price is approximately 56%. The Borrowers plan to seek permanent financing with a local bank once one year of ownership has been reached. The property consists of 190 acres and is fully operational.
Funded By
Commercial Capital BIDCO
Your go-to commercial bridge loan provider for urgent opportunities.