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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
12/15/2014
Property Type
Mixed-Use
Multifamily
Property City
Charlotte
Property State
NC
Interest Rate
%
Origination Points
%
Deal Summary
$2.1M Bridge loan secured by a 22,000 square foot mixed-use building in the South End neighborhood of Charlotte, North Carolina. The Borrower just needed to refinance his previous mortgage which was coming due. He didn’t cash out any equity. The property is primarily made up of live-work lofts (16 units). The estimated value is $3,500,000 so the loan-to-value for this loan is 60% LTV. It was funded in December 2014, and the Borrower plans to refinance within 2 years to pay off this 1st trust deed bridge loan which was funded in December 2014.
Funded By
Ontario Wealth Management Corporation
Direct Lender for Commercial Real Estate Bridge Loans