$4.25 Million Industrial/Office Acquisition Loan
Deal Highlights: This $4.25 Million loan was secure by an assemblage of five industrial/office flex buildings in Franklin, MA (230,000 SF on 18.3 acres of land), which is 25 miles south of Boston. The borrower, who owns one of the leading industrial brokerages in the area, purchased these buildings at a discount from a bankruptcy trustee and intends to sell it in the near future.
Location: Franklin, MA
Loan Amount: $4.25MM
Loan Type: Industrial/Office
Appraised Value: $9.7MM
Interest: 10.5% +2% origination + exit
Term: 8 months + Two, 6-month extensions
LTV: 49.2%
LTC: 75.6%
Guarantees: 1st Lien on Property, Personal Guarantee
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