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$28,750,000 | Portfolio: Indiana and Ohio building

Portfolio: Indiana and Ohio

Transaction Type

Acquisition Finance


Loan Type

Permanent Loan

Situation & Challenges

  • Multi-state portfolio and tight closing deadlines made the due diligence process challenging
  • Borrower structure consisted of five tenants in common (TICs)
  • Commercial mortgage-backed securities (CMBS) lender backed out due to COVID-19 market shutdown

Solutions & Highlights

  • Rate locked at application
  • Funded in less than 30 days from receipt of Appraisals
  • 15-year loan term