Refinance on a Mixed-Use Building in Woodinville, WA
Loan Amount: $4,710,000
Loan Type: Bridge

Challenge

Our Borrower was seeking a $4,710,000 Bridge Loan to refinance a newly developed mixed-use building in Woodinville, WA

· Borrower’s credit score only considered “Fair”
· Current rental income unable to service the payment
· Limited liquidity from Borrower

Solution

Due to:

· New development property in an above average neighborhood
· Borrower’s experience as a General Contractor

Grand Pacific was able to provide:

· $4.71MM Bridge Loan
· Interest Payment Reserve