Commercial
Posted 29d agoCommercial industrial loan in Tucson
$375,000
Location
Tucson, AZ 85701
Target rate
8.68%
Term
2 yr
Property type
Industrial
Property & underwriting
- Occupancy
- Owner occupied
- Units
- 12
- Lien position
- Second lien
- As-is value
- $598,000
- LTV (as-is)
- 62.7%
- Purchase price
- $519,000
- After-repair value
- $732,000
- Loan-to-ARV
- 51.2%
- Rehab budget
- $91,000
- Exit strategy
- Lease-up then refinance
- Borrower experience
- 15+ deals completed
- Credit score range
- 700-749
- Borrowing entity
- Individual
- Funding timeline
- 30 days
- Additional collateral
- Industrial at Tucson, AZ
Use of funds
Acquisition + rehab
Deal summary
Bridge to permanent financing on a industrial in Tucson, AZ. Borrower is seeking $375,000 at up to 8.68% for 24 months. Sell after renovation.