The borrower requested an $860,000 loan to refinance both a commercial property and a quadplex property in Tampa FL. The commercial property (Osborne) features 9 commercial units at a total of 7,435 rentable square footage and is currently being leased. The additional collateral located on Bloomingdale Villas features 4 units with a total of 3 bedrooms and 2 bathrooms at 4,024 sq/ft. 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
