Loan amount
$7,500,000
Loan type
As-Is Property Value
$11,500,000
LTV
66%
{LTV}
Property type
Single family homes
Borrower Details
Credit score
650
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
6 homes all on the ocean front in Ft. Myers, Florida. The total value of the properties are $11,5M. Borrower is looking for 65% LTV $7,5M at best possible rate. The houses are rented out by the week to tourists and they generate sufficient cash flow to cover debt servicing. The funds borrowed will be used to purchase additional houses in the immediate area, they will in turn be rented out. The owner is a corporation owned by a group of Canadian investors. I am a broker representing my client.
Status
Closed
Created
February 5, 2020 - 9:35am
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