Our borrower needed a commercial bridge loan to obtain this medical office, as well as to renovate the building. This office building has a fantastic location in Old Town Scottsdale, making it easily accessible for the potential visitors and tenants. This building has 6 suites, half of them are already leased out, and after the renovations are completed leasing the remaining 3 suites will be easy for our borrower.
- Loan Amount: $1,200,000
- Term: 12-months
- Interest Rate: 10.75%
- Asset Type: Commercial Office
- Loan Type: Commercial Loan