Recent Deals

» $5.88 Million Loan for Condo Investment

Closed on 9/25/07

Property Description:

Multi Story Condo Complex in Orange Beach, Alabama

alabama_condo_pic

The Orange Beach area in Alabama was hit hard by Hurricane Ivan in 2004. Due to the damage in the area and the current oversupply of similar properties, conventional financing for this project was not available. This loan will help the Borrowers to upgrade and furnish the condos. They will serve as rentals for the following year and then will be sold to individual buyers when their market values improve.

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