Summary: Borrower sought the maximum loan amount on a Class C building that was 80% occupied at close. 12-months Interest-Only was provided to assist with the lease-up and CapEx Required.
Loan Amount: $4,000,000
Property: 100+ Unit Multifamily
Location: Kern County, CA
Interest Only: 1 Year
Prepay: Declining Prepay; no penalty if sold