New Closed Bridge Loan $1,085,000
VALUE-ADD, CASH-OUT REFINANCE
|Loan Type: Bridge Loan||Loan Amount: $1,085,000|
|Loan Term: 2 Year||Loan to Value: 70%|
The borrower came to us after a previous lender accepted fees in exchange for funding, but late in the process, it failed to fund.
The sponsor’s goal was to consolidate a bank first, a private money second and extinguish other debt obligations. The proforma plan is to convert the single office space into a popular co-working office environment which would maximize the rental income.
Wilshire was able to swiftly execute a competitive fixed-rate solution and provide surety of a close. Wilshire’s platform supported the sponsor’s goal of consolidating debt, continue the property upgrades and increase the companies overall profits.
- Nationwide Direct Portfolio Lender, with two Real Estate Debt Funds.
- Entrepreneurial Approach, Institutional Sophistication and Discretionary Capital.
- Fast, Easy, Flexible Financing Solutions