A 14,000 sq ft industrial flex warehouse in Doral with 40% vacancy requiring repositioning.
LOAN AMOUNT
$1,950,000
Low occupancy disqualified property from standard bank debt service coverage formulas.
Adler Capital provided $1,950,000 value-add bridge capital with interest reserve for leasing downtime.
The Outcome
Building reached 100% occupancy in 9 months. Stabilized value surged to $3,800,000.
Deal Highlights
LOAN AMOUNT
$1,950,000
PROPERTY VALUE
$2,700,000
LEVERAGE
72% LTV
TERM
18 Months
CLOSING TIME
14 Days
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