FINANCED
Refined Facilitates $3.5M Bridge Loan For Myrtle Beach Development Site On McCormick Rd
23200 Mccormick Road
Development Site
Financed 154 days ago
Summary
Loan
SOUTH CAROLINA
Development Site
A bridge loan in the amount of $3,500,000 was secured for the development site located at 23200 McCormick Rd in Myrtle Beach, SC. The loan terms include a 64% loan-to-value ratio and a 12% interest rate with 1% in and 1% out. The borrower is also allowed to obtain subordinate financing, resulting in a blended loan-to-value ratio of 87%.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,500,000
- Market: Myrtle Beach, SC
- Asset Type: Development Site
- Buildable Square Feet: 25,000
Noam Halevy is the landlord of the development site, and the broker representing the deal is Noele Castillo from Refined agency.
Players
All
2
Agents
1
Agencies
1
Details
FINANCED
IMAGE: Ariel Shitrit
DATE: 11/06/2023
ADDRESS: 23200 Mccormick Rd
MARKET: Myrtle Beach, SC
ASSET TYPE: Development Site ~ BSF: 25,000
LANDLORD: Noam Halevy
BROKER: Ariel Shitrit - Refined (@Refined_CRE)
LOAN AMOUNT: $3,500,000
LOAN TYPE: Bridge
LOAN TERMS: 64 LTV, 12% 1% in 1% out, allowing subordinate financing for blended 87% LTVView on map
Loading...
Address23200 Mccormick Road
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want