$11,300,000 CubeSmart – Another Non-Recourse Construction Loan! – Margate, FL
$11,300,000
Libor Floater
3 year term with 2 one year extension options
Non-Recourse Construction Loan
A ground up construction loan, non-recourse from the start.
Only a completion guarantee was required. Minimal risk as contractors are bonded.
Construction to start immediately, with completion within 14 months. Remainder of loan term to be for stabilization.
Closed by: Zach Nimhauser & Michael Brown
