Offering Details
Short-term bridge financing for the acquisition and repositioning of a 50,000 sqft Class B office building in Austin's East Side tech corridor. Borrower plans to convert to Class A flex space with 95% pre-lease commitments.
Collateral
First lien on 50,000 sqft office building. LTV: 70%. Cross-collateralized with borrower's existing Austin portfolio.
Financial Summary
Interest Rate9.0% APR
Term12 months
TypeBridge
Total Size$1,500,000
Funded$900,000
Remaining$600,000