October 26, 2022
BluePoint arranged the pre-development bridge loan for a mixed-use property in Silicon Valley, California that will provide time for the borrower to obtain approvals and permits. The $7,800,000 loan in Interest Only for the full term and has a 12-month term with two extension options, and no prepayment penalty.
- Property Type: Mixed Use
- Location: Silicon Valley
- Loan Purpose: Acquisition
- Rate: 30 Day Avg. SOFR + 7% / Floating
- Term: 12 Months with two (3) month extension
- Interest Only: Full Term
- Prepayment Penalty: None
- Recourse: Yes
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