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Short-Term Bridge Loan in Colorado Springs, CO

Need

The Sponsor needed a bridge loan to acquire a retail center that was 87% occupied in Colorado Springs.

Solution

Verus Commercial Real Estate Finance issued a 12-month bridge loan with an interest reserve to allow the sponsor time to extend leases of the center larger tenants and lease up the remaining vacant space.

  • Location: Colorado Springs, CO
  • Property Type: Retail Strip
  • Loan Type: Acquisition
  • Loan Program: Short-Term Bridge Loan
  • Amount: $2,853,000

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