The borrower requested a $1,200,000 loan to refinance a legal 11 unit multifamily property in Latana, Florida. The borrower was previously the tenant and ran a drug rehabilitation & wellness center. The borrower then purchased the property for $1,600,000 and is midway through a $400,000 renovation to increase the bed count of the facility.
Collateral:
Type: Refinance
Description:
The borrower is requesting a $125,000 first-lien refinance secured by a vacant lakefront parcel located on Lakeside Dr.,Lutz, FL. The collateral consists of a 0.42-acre irregular-shaped unimproved lot with approximately 80 linear feet of direct frontage on a private ski lake. The borrower’s exit strategy is an o sale of the subject parcel.
- Loan Amount: $125,000
- Date: September 2026
