| Loan Amount | $4,500,000 |
| Loan Type | Cash-out Refinance |
| Property Type | Medical Office Building |
| Location | Houston, TX |
| Size | 77,165 SF |
| LTV | 40% |
| Guaranty | Full Recourse |
Special Conditions & Comments
This was a short-term, interest-only bridge loan to pay off a maturing CMBS loan. The sponsor also needed a small amount of cash-out proceeds for capital replacements and tenant improvements. The borrower plans to sell the property and needed a loan with unrestrictive loan covenants, at least one extension option and no pre-payment penalties.