Borrower requested a $500,000 loan to purchase a commercial car lot and building in Hudson, FL. The borrower paid $695,000 for the property and has plans to build a new structure and sell the property as a car dealership. Appriased value was $850,000 at purchase.
Collateral:
Type: Fix and Lease
Description:
This financing opportunity involves a $2.5 million lending request structured as two interest-only mortgages with a 2-year term and 12% fixed interest. The transaction includes a commercial acquisition loan supported by multiple commercial real estate assets, along with a separate residential refinance, resulting in a conservative overall loan-to-value ratio backed by substantial collateral. The primary exit strategy is to refinance the commercial property.
- Loan Amount: $2,500,000
- Date: July 2026
