Location: St. Louis, MO
Loan Amount: $1,100,000
Interest Rate: 12%
Term/Amortization: 1-Year Interest Only
Loan to Value: 70%
Purpose: The bridge loan was used to refinance the existing debt on 63 apartment units located in St. Louis, MO. The borrower approached Arriba while the properties were in a technical default. Arriba turned a negative situation in to a positive one by structuring a financing package that allowed our borrower to capitalize on a discounted payoff (DPO) with the existing lender.