Loan Type : Acquisition
Loan : $5,389,000
$5,389,000 bridge financing for the acquisition and tenant fit-out of a DaVita Dialysis located in Yonkers, New York. The loan was underwritten at 65% of the “as-stabilized” value and represents 85% loan-to-cost. The loan carries an initial 12-month interest-only period at 275 basis points over LIBOR, followed by five years at LIBOR plus 250 basis points.