Borrower requested a $3,800,000 loan to purchase a commercial building in Clearwater, Florida. The property was built in 1972 and features 16,729 leasable sq/ft and 46 units. Borrower plans to keep leasing the property and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
Borrower is secured by four properties: a luxury condominium in Miami, FL; a single-family home in Roswell, GA; and two properties in Greenwood, SC—a commercial building and a single-family home. The borrower intends to refinance the loan using a DSCR (Debt Service Coverage Ratio) product.
- Loan Amount: $1,050,000
- Date: November 2024