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Loan Amount
$1,200,000
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LTV
59.75%
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Term
12 Months
Transaction Overview
Stormfield funded a $1,200,000 cash-out bridge loan for a sponsor holding two multifamily investment properties, a triplex and a duplex, in Winthrop, Massachusetts, totaling five units. The financing unlocks equity from the two properties, which the sponsor plans to sell to repay the loan. The 12-month loan is structured at 59.75% of the $2,006,000 underwritten value. Underwriting weighed the sale-based exit and the local Winthrop residential market, along with the business plan for the property. For brokers and borrowers, the deal shows Stormfield’s cash-out bridge financing on small multifamily properties in Massachusetts.
