Loan amount
$15,000,000
Loan type
As-Is Property Value
$80,000,000
LTV
19%
{LTV}
Property type
Commercial Land
Borrower Details
Credit score
700
Deal experience
30 deals
This loan scenario was submitted by a Broker
Property Details
State
Texas
Loan Details
Additional Loan Information
We own 70 acres on the corner of Hwy 71 and SW Pkwy in Austin, we are developing two office buildings and their parking garages, a hotel, restaurant, multifamily residential, and large live outdoor music venue. We are seeking a $15.5m bridge loan for a 1-2 year term. The bridge will take out a previous $8.5m first lien note. Our lead equity investor will then roll his $8.375m second lien note into equity leaving only $15.5m of debt.
Status
Closed
Created
July 9, 2020 - 9:45am
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