REBusinessOnline

Money360 Closes $15.6M Bridge Loan for Houston Office Property

HOUSTON — California-based direct lender Money360 has closed a $15.6 million bridge loan for an undisclosed office property in Houston. The three-year recourse loan features a 74 percent loan-to-value (LTV) ratio. Proceeds from the loan will be used to pay off existing debt, complete construction, conduct tenant improvements and market the property, which was impacted by Hurricane Harvey.

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