Borrower requested a $500,000 loan to refinance a commercial property in West Palm Beach, Florida. The property is mixed-use and is currently operating as a rehab facility with 16 beds and 4,604 sq/ft total. The borrower plans on leasing the property and then refinancing as an exit to the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $155,000 loan to refinance a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 1,108 sq/ft, and is tenant occupied. The borrower is using proceeds to complete a build at a different location and will sell the other investment property to exit the loan.
- Loan Amount: $155,000
- Date: July 2024