$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

LTV: 65%

LTC: 72%