Merchants Bank Of Indiana Provides $16M Bridge Loan For Multifamily Property | 4250 Branch Bend Lane | Merchants Bank of Indiana | Jonathan Singer | MultiFamily | Loan

Summary

Loan

NORTH CAROLINA

MultiFamily

116,016 sqft

Located at 4250 Branch Bend Ln. in Charlotte, NC, this multifamily property encompasses a total square footage of 116,016 and consists of 120 units. The transaction took place on October 29, 2021, and was completed with the assistance of Jonathan Singer from Strategic Funding.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $16,025,000
Loan Amount: $16,025,000
Loan Type: Bridge loan
Loan Terms: 80% of Purchase Price, 100% of Cap ex, 3.30% IO Rate

Merchants Bank of Indiana provided the loan of $16,025,000 for this transaction. The loan terms include 80% of the purchase price and 100% of the capital expenditure, with a 3.30% interest-only rate. Jonathan Singer from Strategic Funding represented the buyer as their broker in this deal.

Players

All
2

Agents
1
Lenders
1

Jonathan Singer

Debt Placement Broker

Merchants Bank of Indiana

Details

Deal Summary

FINANCED

IMAGE: Jonathan Singer DATE: 10/29/2021 ADDRESS: 4250 Branch Bend Ln. MARKET: Charlotte, NC ASSET TYPE: Multifamily ~ SF: 116,016 ~ UNITS: 120 LENDER: Merchants Bank of Indiana BROKER: Jonathan Singer - Strategic Funding (@StrategicFundingNY) LOAN AMOUNT: $16,025,000 LOAN TYPE: Bridge loan LOAN TERMS: 80% of Purchase Price, 100% of Cap ex, 3.30% IO Rate

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Address4250 Branch Bend Lane

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