Dallas-Forth Worth, Texas – Office

The goal of the Borrower was to secure a bridge loan to refinance their exiting bank loan. The bridge loan needed to close within 15 business days before the loan matured. Their existing bank was acquired, and the acquiring bank no longer wanted any real estate loans on the balance sheets. The loan request was for $1,500,000 and Prescient Capital secured the loan with a first lien on a one-story office building. In addition to the primary collateral, the Borrower pledged several other properties and signed a personal guarantee. The strategic goal of the Borrower was to, 1) use the proceeds from Prescient Capital to refinance their existing loan, and 2) secure a conventional CRE loan. The quick-close ability of Prescient Capital allowed the Borrower to meet near-term strategic goals.

$1,500,000

75%