Rodeo Lending closes a $5,750,000 Office Building Refinance in Albuquerque, NM



Property Type

Loan Type

September 30, 2021

The subject property is a 160,462-square foot, 17-story, urban office building; approximately 50% leased to a Governmental Agency, Borrower recently renovated the building including all new common areas, lobby, fitness center and elevators. Borrower needed a quick bridge to payoff the acquisition loan and allow him time to stabilize the property. Once stabilized, the borrower will exit Rodeo’s loan with a conventional refinance.

Deal Highlights:

  • 70% Loan to Value
  • Experienced Repeat Borrower
  • Built-in Interest Reserves

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