$25,500,000

Bridge Loan

The Bronx, New York

W Financial has provided a first mortgage bridge loan of $25,500,000 secured by four adjacent retail properties located in the Bronx, New York.

The borrower required the loan to refinance the existing first mortgage on the property. The properties were partially occupied at the time of closing and the borrower plans to complete capital expenditures to improve the vacant units. The borrower plans to repay the W Financial loan with a conventional loan upon stabilization of the property.