Short-Term Bridge Loan in Shrewsbury, MA

Need

The Sponsor needed to refinance out of a conventional loan due to the buildings occupancy quickly dropping to zero after a tenant was bought by an overseas company and moved abroad.

Solution

Verus Commercial Real Estate Finance provided a 24-month bridge loan with an interest reserve to allow the Sponsor time to lease up the vacant space.

Location: Shrewsbury, MA
Property Type: Warehouse
Loan Type: Refinance
Loan Program: Short-Term Bridge Loan
Amount: $4,395,000

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