Loan Type: Bridge – Acquisition and Renovation
Successfully completing two creative office projects, our Client was ready to initiate their next project.
• Issue with title company due to the loan amount being equal to purchase price
• Majority of real estate experience and investments were out of state
• Large scale renovation implied a fully vacant and income less property
With a better understanding of the nature of this project, Grand Pacific structured the loan accordingly.
Having funded several creative office projects, our experience was able to provide the client with an optimal loan structure and efficient loan process.
• Mediated and resolved issues with title company
• Provided full term payment reserve to support the temporary vacant property
• Two extensions structured to avoid the loan terminating prior to completion