L&L Portfolio

Jacksonville, NC

Loan Amount

$28,500,000

Deal Description

This deal had a unique story because it was originally intended to be closed on using assumable debt that the seller was offering. A few weeks out from closing the assumable loan process derailed and the client needed and competitively priced quick turn around Bridge solution to allow them to close on the transaction on time and will look to refinance into a more permanent fixed rate loan once the value add strategy is implemented over the next 18-24 months.

Property Location

Jacksonville, NC

 Quick Stats 
Partner Type

Agency

Program Type

Light Transitional Bridge

Program details

- LTV: 80%
- Rate: 3.5%
- Term-3yr term (floating)
- IO Period - Full Term
- Non-recourse