Bridge Loan · Funded
$1,400,000
Office/Warehouse, Nassau County, NY
Terms of the loan
- Loan Amount
- $1,400,000
- Purchase Price
- $2,500,000
- Loan Type
- Bridge Loan
- Property Type
- Office/Warehouse
- Market
- Nassau County, NY
Borrower names and exact property addresses are withheld for confidentiality.
The transaction
Truen & Michaels Associates, through one of its affiliates, closed a $1,400,000 bridge loan for the acquisition of an office/warehouse building in Nassau County. The purchase price was $2,500,000. The property needs minor renovation, followed by leasing out many of its vacant spaces. From there, the plan is to take the borrower to a traditional bank for permanent financing.
- $1,400,000 bridge loan
- Office/warehouse building · Nassau County, NY
- Purchase price $2,500,000
Also in the ledger
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Past performance is not indicative of future results. All loans subject to underwriting and collateral approval.