Borrower requested a $285,000 loan to purchase a commercial property in Fort Myers, Florida while simultaneously pledging a second free and clear SFR rental property in Cape Coral, Florida as collateral for the loan. The property features 1,258 sq/ft, on a corner lot, with 6 parking spaces. The property located on 5th Place features 3 beds, 2 baths at 1,165 sq/ft on a 0.27 acre lot, and is currently rented on an annual lease. The borrower plans to refinance 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
