Bradenton, FL Ian Fitzgerald, originator at Largo Capital, Inc., secured a $3.1 million bridge loan for the recapitalization of a newly constructed small bay industrial/flex building. The 16,000 +/- s/f building is 100% occupied.
The borrower sought to pull equity from the subject property to quickly close on a separate acquisition, achieving this in just three weeks from term sheet to closing.
The loan, which has no prepayment penalty, provides maximum flexibility for the borrower. The property is located just east of Interstate-75 in the rapidly growing Lakewood Ranch community.
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