Short-Term Bridge Loan, Spotlight in Woodbridge, NJ

Need

The Sponsor approached Verus Commercial Real Estate Finance for a bridge loan to consolidate his debt on a mixed-use property that contained two long term ground leases with a national fast food chain and car dealership.

Solution

Verus Commercial Real Estate Finance provided the Sponsor with an 18-month bridge loan to give the Sponsor time to get a conventional long-term loan.

Location: Woodbridge, NJ
Property Type: Mixed-Use Property
Loan Type: Renovation
Loan Program: Short-Term Bridge Loan
Amount: $6,000,000

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