Equity Take-Out Loan on 3 Retail Plazas
Loan to Value (LTV)
1st mortgage on 3 retail plazas (35,300 SF, 26,352 SF, and 25,269 SF). Our client required funds to pay for the estate taxes associated with a partner’s passing. They were unable to obtain financing from a financial institution due to cashflow issues related to Covid. Hillmount Capital was able to quickly provide an equity take-out loan that allowed our client to pay off estate taxes and cover carrying costs.