Loan amount
$9,000,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$12,000,000
{PP:$10,000,000}
LTV
75%
{LTV}
Property type
Hotel
Borrower Details
Credit score
700
Deal experience
5 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Southfield
State
Michigan
Loan Details
Purchase price
$10,000,000
Down payment
$1,000,000
Additional Loan Information
242 Unit hotel, flag already in place Client wants to buy out the hotel, that's outlined in the management agreement. the client has an appraisal with an after repair value of 24 million
Status
Open
Created
October 18, 2021 - 1:25pm
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