VON ORMY AND HOUSTON, TEXAS
W Financial has provided a $12,500,000 first mortgage bridge loan secured by two industrial properties, one located near Houston and the other in the San Antonio area of Texas. The borrower needed to close on the acquisition of the property located in San Antonio. The property in Houston was already owned by the borrower and unencumbered and provides additional collateral for W’s bridge loan. Upon stabilization, the borrower plans to either refinance the W Financial loan or sell the properties.