$29,500,000
College Station, TX
Transaction Type
Loan Refinance
Non-Recourse
Loan Type
Bridge Loan
Situation & Challenges
- Borrower had a pending maturity on construction loan
- Property was completed at the peak of a soft market
- Property required longer seasoning before qualifying for permanent financing
Solutions & Highlights
- By funding a bridge loan prior to maturity, the Borrower averted costly extension fees/default
- Earn-out component based on operating performance
- 3-year term with extension options