Rodeo Lending funded another great loan while working virtually on a 93,629 gross square foot office/flex building on a 15.8 acre site. The interior of this property features a mix of traditional office, training lab, R&D space and warehouse with expansion potential, which is ideal for pharmaceutical companies and other test facilities. This property was a former major insurance company’s testing facility. During these unprecedented times there will be a heightened need for these types of testing facilities. Loan proceeds were used to acquire the property. There is a 12-month interest reserve in place. The borrowers plan on stabilizing the property and then sell or refinance the property.
- 45% Loan to Value
- Borrower Funded 12 Mo. Interest Reserve