$1,085,000 | OFFICE BIRMINGHAM, AL

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%
Birmingham 2

 

Birmingham, AL

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.

Why Wilshire? 

  • Nationwide Direct Portfolio Lender, with two Real Estate Debt Funds.
  • Entrepreneurial Approach, Institutional Sophistication and Discretionary Capital.
  • Fast, Easy, Flexible Financing Solutions
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