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Posted: March 26, 2024
Cohen of Refined CRE arranges $6.2 million loan
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Brooklyn, NY According to Refined CRE, senior capital advisor, Peter Cohen, has successfully arranged bridge financing for an 11-unit multifamily property.
Peter secured a $6.2 million bridge loan for the property. This interest-only transaction comes with an aggressive 8.55% floor interest rate, with no prepayment penalty for a 24-month term.
Over the past few months, the borrower has been looking for permanent financing. With uncertainty in the rate environment, the borrower was still able to achieve a competitive rate while also having the flexibility to refinance when rates come down.
This transaction underscores Refined's ability to navigate complex financial landscapes and deliver tailored solutions to our client.
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