Gabby Cali Of Cali Capital Secures $2.2M Construction Loan For Mixed-Use Property In New Brunswick

The asset involved in this transaction is a mixed-use property located at 213 French Street in New Brunswick, featuring a total square footage of 17,869. The loan amount associated with this property is $2,200,000, structured as a construction loan with specific terms set at 70% LTC and 75% LTV, allowing for an 18-month interest-only period with a 6-month extension option, and no exit fee applicable.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $2,200,000
• Loan Type: Construction
• Loan Terms: 70% LTC/75% LTV, 18-month interest-only + 6-month extension, No Exit Fee
• Address: 213 French Street
• Market: New Brunswick
• Broker: Gabby Cali - Cali Capital

This transaction is represented by Gabby Cali from Cali Capital, highlighting the brokerage firm's involvement in facilitating the construction loan for the mixed-use property. The terms agreed upon emphasize a flexible repayment structure, providing the borrower with strategic financial options during the construction phase.