Kansas City, MO
Event Center, Office
Borrower purchased two historical office buildings near the Central Business District in Kansas City a year ago. From the time of purchase, Borrower brought the buildings from 20% occupancy to 60% occupancy and wanted to lower their interest rate due to the now-decent cash flow in place. Borrower required a quick-close, 60% LTV and a 24-month term. Archway Fund was able to close the deal in under two weeks with a cross collateralization. The interest rate was 8.95%. This senior bridge loan was funded in November 2017.