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$19,000,000: $10,200,000 “Non-Recourse”
Credit Facility and $8,800,000 in JV Equity Financing
for 9,550 SF Creative Office Conversion with Ground
Floor Retail in Miami, Florida.
LoanBase assisted in securing $19,000,000 in capital for the conversion of an office
building, located in the heart of Downtown Miami, Florida. The equity was used to
convert the existing mixed-use asset into a creative office space that includes ground
floor retail.
The $19,000,000 was comprised of a $10,200,000 non-recourse credit facility. The
capital stack was topped off with $8,800,000 in joint venture equity financing which
was also arranged by LoanBase. LoanBase was able to aid in the quick closing of financ-
ing while meeting the client’s needs.
Loan Amount:
$19,000,000
Rate:
4%
Term:
36 Months
Amortization:
Interest Only
LTV:
65%
DCR:
1.25x
Prepayment:
None
Recourse:
Non-Recourse
LoanBase secured a $14,080,000 cash-out bridge financing for a six-unit, waterfront,
luxury condominium complex that is mid-construction, located in Newport Beach,
California. The borrower fully owned the developments and had purchased all cash at
the time of closing. The borrower was seeking to use the financing proceeds to com-
plete construction and recapitalize for other projects.
Before using LoanBase, the borrower was asking for maximum loan proceeds in order
to pay off an existing bridge loan that was leveraged at an average of 50-60% LTC
hoping to finish the construction and provide cash-out for other similar developments
in their portfolio. The borrower was not able to find a lender that was able to provide a
bridge loan to refinance another bridge loan, while being able to provide cash-out
before the completion of the projects.
The borrower then utilized LoanBase’s platform and was able to identify a capital
source that successfully match his terms in addition to a quick close.
Loan Amount:
$14,080,000
Rate:
10%
Term:
12 Months + Extensions
Amortization:
Interest Only
LTV:
70-75%
DCR:
1.25x
Prepayment:
None
LoanBase helped a borrower secure a $5,100,000 for the purchase of a stabilized 18-unit apart-
ment complex located in East Los Angeles, California. The rate was fixed at 4.01% for six years and
will float at 6-month LIBOR plus 2.25% for the remaining term of 24 years. There were no prepay-
ment penalties.
The borrower was looking for a quick loan and relied on LoanBase to shop his product in order to
find the cheapest and best options. LoanBase matched the borrower with a trusted regional bank
and was able to satisfy on both the borrower and lenders sides by creating a quick and efficient
communication platform. The loan was closed in less than 30 days.
Loan Amount:
$5,100,000
Rate:
4.01% Fixed for 6 years; 6
Month LIBOR + 2.25% remaining 24 years
Term:
30 years
Amortization:
30 Years thereafter
LTV:
65%
DCR:
1.25x
Prepayment Penalty:
None
LoanBase helped a borrower successfully close a $12,725,000 loan on a value-add retail property
located on a busy retail corridor located directly across from the University of Texas at Austin.
The property is located on Guadalupe street, which encompasses major retailers and high foot
traffic. The borrower was looking to secure his perm loan while creating a relationship with his
trusted lender. LoanBase was able to effectively secure the loan, while meeting the client’s needs.
Loan Amount:
$12,725,000
Rate:
6.00%
Term:
Three years + two 12-Month Extensions
Amortization:
24 months Interest Only; 25-year amortization there-
after
Loan to Cost:
75%
Guaranty:
Non-Recourse
DCR:
1.25x
Prepayment Penalty:
None
LoanBase helped a client effectively arrange the ground- up construction financing for six-unit
multifamily building located in the Culver City area. The property is a two-story complex, con-
sumed of 2 one-bedroom one-bathroom, and four two-bedroom two-bathroom units, located in a
large residential pocket and is surrounded by major retailers, such as Whole Foods, Target, and
Walmart.
The borrower was a first time commercial and desired the help of LoanBase in order to find a trust-
ed lender to take care of his financing needs. With LoanBase’s long term lender relationships, and
large rolodex of clientele, the request was able to be accomplished successfully and smoothly.
Loan Amount:
$2,330,000
Rate:
PRIME + 0.70% (5.20% floor)
Term:
24 Months
Guaranty:
Non-Recourse
Loan to Cost:
75%
DCR:
1.25x
Prepayment Penalty:
None
