Borrower requested a $125,000 loan to refinance a single-unit condominium located in Bradenton, Florida. The property features 2 beds and 2 baths at 1,030 sq/ft. The property is currently tenant occupied. The borrower is using the loan proceeds for another business venture and plans to refinance the property as an exit to this loan.
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
