The borrower requested a $5,000,000 loan to refinance a Condo property in Miami, Florida as well as pledging 6 other properties as collateral to the loan. The condo property is 6 beds and 9.5 baths at 11,661 sq/ft which also includes a 4 car garage and views of the ocean. The borrower plans to refinance as an exit to the loan
Collateral:
Type: New Construction
Description:
This is a $260,000 new construction loan request on a duplex located in Port Charlotte, FL, with an initial disbursement of $60,000 at closing. Upon completion, the property will consist of two units, each featuring 3 bedrooms, 2 bathrooms, 1,247 square feet of living space, and a 1-car garage. The borrower intends to refinance the property as the primary exit strategy.
- Loan Amount: $260,000
- Date: August 2025