Loan Type : Acquisition
Loan : $3,700,000
$3,700,000 non-recourse acquisition loan for an 8,219 square foot medical office building located in Plainview, New York. The five-year loan is based on a 25-year amortization schedule with the first 12 months interest-only. The loan features a floating rate of the five-year Treasury plus 240 basis points and was underwritten at 75% loan-to-value and 100% loan-to-cost.