Borrower requested a $300,000 loan to refinance a single-family property in Ft Myers, Florida. The property was listed for sale for $865,000 before hurricane lan, since then the property experienced wind and flood damage in the storm and is in need of $200,000+ in remediation. The property features 4 beds and 3 baths at 2,846 sq/ft and was previously being operated as an Airbnb. Borrower plans to sell the property as an exit to the 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
