Loan amount
$21,000,000
Loan type
As-Is Property Value
$41,000,000
LTV
52%
{LTV}
Property type
Commercial / Assisted living facility
Borrower Details
Credit score
574
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Texas
Loan Details
Additional Loan Information
Existing Class A 30 room private assisted Living facility. Loan amount needed is $21M -- can be funded in stages
1) Acquisition @ $8.5M (AS IS value @ 7% CAP = $11M)
2) Convert licenses @ $500,000 (Value will increase to $41M @7% CAP)
3) Add new 4 story building, 60 units @$12M (value will increase to $92M @7% CAP)
Already in contract. Property located in Spring, TX; just outside of Houston. Loan duration 24 to 48 months. I am a broker representing my client.
1) Acquisition @ $8.5M (AS IS value @ 7% CAP = $11M)
2) Convert licenses @ $500,000 (Value will increase to $41M @7% CAP)
3) Add new 4 story building, 60 units @$12M (value will increase to $92M @7% CAP)
Already in contract. Property located in Spring, TX; just outside of Houston. Loan duration 24 to 48 months. I am a broker representing my client.
Status
Closed
Created
June 11, 2020 - 9:15am
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