Loan amount
$17,300,000
Loan type
Purchase {Construction}
After Repair Value
$50,000,000 {PP:$8,000,000}
ARV
35% {ARV}
Property type
Medical Office
Borrower Details
Credit score
600
Deal experience
3 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Hamlet
State
North Carolina
Loan Details
Purchase price
$8,000,000
Down payment
$200,000
Cost of improvements
$9,500,000
Estimated property value after repairs
$50,000,000
Additional Loan Information
A non-profit group client is seeking to purchase and operate a hospital for geriatrics psychiatry, targets 55+, 3.0 story hospital asset, 134,472sf, on 14.13 acres and associated with a rural 15-county medical services consortium. As is appraisal in hand and paid for at $26 million. My client is seeking a 75% LTV to cover acquisition at $8 million, pre-paid development costs of $300,000, $9.5 million in up-fit/renovations to expand from 84 beds to nearly double. I would love discuss funding possibilities.
Status
Created
January 17, 2023 - 3:46pm

Hard Money Lenders Now Offering Real Estate Investor Loans in North Carolina Charlotte | Raleigh | Greensboro | Durham | Winston-Salem | Fayetteville Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans