Rodeo Lending closes a $530,000 rehab loan for a multifamily property in Cleveland Ohio

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March 19, 2019

Subject property is a 8-unit building on a 9,583 sqft lot, located in the Detroit Shoreway neighborhood. Our experienced borrower bought this great investment property well below market value on his own, but still needed Rodeo to help renovate the property. Rodeo Lending’s loan allowed the owner to add a new roof, install brand new windows, along with other major important improvements. Upon completion, our client will sign brand new tenant leases and exit Rodeo’s bridge loan via conventional financing upon stabilization.

DEAL HIGHLIGHTS:

  • 53% Loan to Stabilized Value
  • Fund Controlled Rehab
  • Highly Experienced Borrower

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