T-MAX Lending LLC Provides Loan for a multifamily property in San Diago, CA.
Jun 2, 2023
June 2, 2023
T-MAX Lending LLC is pleased to announce the successful closing of a $5,500,000 commercial loan to an LLC specializing in purchasing and renovating multifamily properties in Villahermosa, Tabasco, Mexico. The loan proceeds were used to close on the purchase of a multifamily property in Villahermosa, Tabasco, Mexico, as well as for the renovation costs of that property. The loan is secured by a blanket mortgage on six different properties in Villahermosa, Tabasco, with an underlying loan-to-value (LTV) of 80%.
Upon completing the renovations, the borrower plans to refinance the debt on the property with a long-term conventional mortgage to pay off T-MAX Lending LLC's bridge loan. This real estate investor is a repeat borrower of T-MAX Lending LLC. Together, T-MAX and the borrower have worked on numerous real estate transactions.