Bridge Loan for Las Vegas 48-Unit Multifamily Property Acquisition

Funded by Archway Capital

$2,200,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

04/13/2018

Property Type
Multifamily
Property City

Las Vegas

Property State

NV

Interest Rate

%

Origination Points

%

Deal Summary

In April 2018, Archway Fund financed a $2.2M acquisition loan secured by a 48-unit multifamily property located in Las Vegas, Nevada. The sponsor required a quick close to accommodate a 1031 exchange and couldn’t get bank financing due to low credit scores and a tax lien. Exit is to repair credit, increase rents and refinance with a permanent loan. 67% LTV, 8.0% Interest Only, 12-month term.

Funded By

Archway Capital

National Non-Recourse Bridge Loan & Equity Provider