$7,080,000
Jacksonville, FL
Transaction Type
Loan Refinance
Non-Recourse
Loan Type
Bridge Loan
Situation & Challenges
- Newly constructed, vacant building
- Borrower wanted to retire construction loan to free up capacity to develop more properties
- High loan-to-cost
Solutions & Highlights
- Earn out facility included upon achieving lease-up
- 5-year fixed rate loan term