$3.45 Million Condominium Refinance
Loan Highlights: Sponsor was seeking a loan to refinance all existing debt on its 63 units and fund renovation of 20 remaining unrenovated units for a Community in Columbia, SC.
Location: Columbia, SC
Loan Amount: $3.45 Million
Loan Type: Refinance and rehab
Appraised Value: $5.7 Million (Colliers)
Interest: 10% + 2% origination + exit
Loan Term: 12 months + 6 month extention