Loan amount
$17,000,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$55,000,000
LTV
31%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
750
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Akron
State
Ohio
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$17,000,000
Additional Loan Information
This mining farm, nestled in Akron, Ohio, sprawls over a 22-acre tract of land and boasts a hefty power load capacity of 150MW, ranking it seventh in terms of scale across the United States. The project reached full completion in April 2023 and encompasses a broad array of assets held by VDC, including the land, factory buildings, power facilities, and substations. The primary clients are Bitmain and Bit Mining.
Currently, the project is seeking a loan totalling $17 million. This funding will assist in settling bills from power companies, overdue payments to contractors, as well as covering a portion of the expenses related to factory renovations.
Currently, the project is seeking a loan totalling $17 million. This funding will assist in settling bills from power companies, overdue payments to contractors, as well as covering a portion of the expenses related to factory renovations.
Status
Open
Created
July 4, 2023 - 1:17am
Hard Money Lenders Now Offering Real Estate Investor Loans in Ohio Columbus | Cleveland | Cincinnati | Toledo | Akron | Dayton Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans