Milos Vukicevic And Ruben Izgelov Of We Lend LLC Provide $3,435,000 Bridge Loan In New Orleans

A 48-unit multifamily property located in New Orleans, Louisiana, has secured a bridge refinance. The loan amount totals $3,435,000, with terms set for a duration of 12 months. The borrower was approaching maturity on an existing loan, with rehabilitation nearly complete, prompting the refinance to facilitate exiting the maturing loan and providing additional cash-out for final touches on the property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,435,000
• Lender: Milos Vukicevic & Ruben Izgelov - We Lend LLC; Jeff Safi
• Loan Type: Bridge
• Loan Terms: 12 months
• Cash-out to complete remaining finishes
• Refinanced maturing construction loan
• Lease-up in progress at closing
• Exit into 30-year permanent financing
• Closed in 3 weeks

The deal involved key individuals, including Milos Vukicevic, Ruben Izgelov, and Jeff Safi, who facilitated the financing arrangement under the banner of We Lend LLC. The expedited processing of the loan, closing in just three weeks, allowed for a seamless transition into lease-up phase post-closing, with plans for securing permanent financing once the property is fully stabilized.