$1,800,000, cash out refi

5 year fixed rate loan + 5 year extension option

25 year amortization

4.25% fixed

Recourse with a burndown

No Prepayment Penalty

Property consists of entire grade level commercial condominium, and adjacent 7,425 square foot lot to be used for surface parking, a well as 31 garage spaces. Loan allowed sponsor to take this raw space, refinance the existing loan, cover tenant improvements and leasing commissions, as well as cash out. New tenant is Cano Health.

Closed by Brad Beattie & Michael Brown