75% LTC Non-Recourse Bridge Loan

Buchanan Mortgage Holdings, LLC provided a $17.2 million, non-recourse bridge loan for the acquisition and repositioning of a 98% occupied, 139,015 SF light industrial property located in Moreno Valley, California. The sponsor’s business plan includes completing exterior capital improvements, recording a commercial condo map, and selling individual units. Due to the sponsor’s extensive experience executing […]

Buchanan Mortgage Holdings, LLC provided a $17.2 million, non-recourse bridge loan for the acquisition and repositioning of a 98% occupied, 139,015 SF light industrial property located in Moreno Valley, California. The sponsor’s business plan includes completing exterior capital improvements, recording a commercial condo map, and selling individual units. Due to the sponsor’s extensive experience executing similar business plans throughout California, Buchanan Mortgage Holdings, LLC was able to provide a flexible loan structure with holdbacks to fund capital improvements, condo map pursuit costs and carry costs, in addition to allowing for partial releases of collateral as individual units are sold.