We Lend Provides $6.45M Bridge Loan For Multifamily Conversion In Myrtle Beach, SC | We Lend completes $6.45M loan on 119-units multifamily property in Myrtle Beach, SC | We Lend | MultiFamily | Loan

Summary

Loan

SOUTH CAROLINA

MultiFamily

42,080 sqft

A bridge loan in the amount of $6,450,000 was secured for a multifamily property located in Myrtle Beach, South Carolina. The asset consists of 119 units with a total square footage of 42,080. The loan was closed by We Lend, represented by Jeff Safi, Ruben Izgelov, Solomon Suleymanov, Moses Suleymanov, and Andrew Schnissel.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $6,450,000
Market: Myrtle Beach, SC
Units: 119

The lender, We Lend, facilitated the bridge loan for the conversion of a hotel into a multifamily property. The loan provided leverage of 75% of the purchase price and 100% of the renovation budget. This transaction was successfully closed within a span of 15 days.

Players

All
1

Lenders
1

We Lend

Details

Deal Summary

FINANCED

IMAGE: Jeff Safi, Solomon Suleymanov, Ruben Izgelov, Moses Suleymanov & Andrew Schnissel DATE: 10/31/2021 MARKET: Myrtle Beach, SC ASSET TYPE: Multifamily ~ SF: 42,080 ~ UNITS: 119 LENDER: We Lend (@WeLendLLC) - Jeff Safi, Ruben Izgelov (@Ruben_Izgel), Solomon Suleymanov (@Sal_Solomons), Moses Suleymanov (@Moses.Suley) & Andrew Schnissel (@AndrewSchnissel) LOAN AMOUNT: $6,450,000 LOAN TYPE: Bridge loan NOTE FROM LENDER: Loan Amount: $6,450,000 Location: Myrtle Beach, South Carolina Loan Type: Hotel to Multifamily Conversion Units: 119 Leverage: 75% of purchase and 100% of renovation budget Closed in 15 days

View on map

AddressWe Lend completes $6.45M loan on 119-units multifamily property in Myrtle Beach, SC

Comparables

This user does not have deals with the selected filters yet.
Reset filters to show results.