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.