Project Description
Refinance and Cash Out on a Six Mixed-Use Units and a Townhome in Seattle, WA
Loan Amount: $1,647,000
Loan Type: Bridge
Challenge
Our Borrower was seeking a $1,647,000 Bridge Loan to refinance and cash out on 2 Residential Units, 4 Retail Units, and a Townhome.
· Debt Service Ratio was relatively low
· Complicated entity structure
Solution
Due to:
· Attractive properties in a desirable location
· Experienced guarantors in Real Estate Development
· Relatively low LTV of 61%
Grand Pacific was able to provide:
· $1.6MM Bridge Loan
· Interest Payment Reserve
· Capital for future projects
Contact Us |
Past Loans |
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(323) 780-0855 |
