Mixed-Use
Fast, flexible financing to exercise a lease-to-own purchase option on a mixed-use property.
About the Loan
The property was originally structured under a lease-to-own agreement. When the opportunity arose to exercise the purchase option, the borrower needed fast, reliable financing. Myers Capital partnered with its affiliate, Koa Mortgage Fund, to originate a first-lien purchase bridge loan at 60% LTV based on a $1,050,000 appraised value.
- 60% LTV
- 14.5% Interest Rate
- 6-Month Term
- Purchase Bridge Loan
Outcomes
The transaction closed smoothly and on schedule, empowering the investor to execute their strategy. This successful project established a reliable capital partnership for future deals.
$630,000
Loan Amount
60%
LTV
14
Days to Close / Term
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