Leander (Austin), Texas
W Financial has provided a $5,000,000 bridge loan for the acquisition of a flex (office/industrial) building located on Volta Drive in Leander, Texas, just outside of Austin. The total loan amount was $8,000,000 and the seller has provided subordinate financing behind our first mortgage for $3,000,000. The borrowers are foreign nationals and needed to close within a very tight time frame by the end of the year. The transaction was facilitated with a sale leaseback structure with the tenant. It is expected that W Financial’s bridge loan will eventually be refinanced with a conventional mortgage.