Amount: $3,000,000 • CLTV: 85% • Rate: 8%
Property
Single retail structure with additional buildable square footage.
Scenario
Recently, Park 49 successfully arranged financing for the acquisition and conversion of a storage facility in the Chicago area. Our client required secondary financing to purchase a vacant “Big Box” retail property and transform it into a self-storage facility. Through our efforts, we facilitated the acquisition and conversion of this commercial property, securing preferred equity from an institutional capital source on behalf of the client.
