The borrower requested an $860,000 loan to refinance both a commercial property and a quadplex property in Tampa FL. The commercial property (Osborne) features 9 commercial units at a total of 7,435 rentable square footage and is currently being leased. The additional collateral located on Bloomingdale Villas features 4 units with a total of 3 bedrooms and 2 bathrooms at 4,024 sq/ft. The borrower plans to refinance as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025