Loan amount
$2,100,000
Loan type
As-Is Property Value
$7,000,000
LTV
30%
{LTV}
Property type
Rural industrial and mixed use
Borrower Details
Credit score
627
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Oregon
Loan Details
Additional Loan Information
40 acres located in Molalla, OR 97038, on which are located 6 new warehouses and the borrower's 4,000+ SF custom home personal residence. The borrower operates his cannabis drying equipment manufacturing business in one warehouse, and the other 5 warehouses are vacant. His business grossed over $4,900,000 during a recent 12 month period. Borrower wants a 3-5 year loan. Approximately $1,925,000 is owed on the property; $1,500,000 on the 1st, and $425,000 on the 2nd. In the worst case scenario, the borrower has indicated that the holder of the 2nd may be willing to resubordinate. I am a broker representing my client.
Status
Closed
Created
July 28, 2020 - 8:56am
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