| Transaction: |
Crosswyndes, Tampa, FL |
| Property Type: |
Condominium Conversion (453 units) |
| Structure: |
Bridge Loan |
| MF Loan: |
$48,000,000 |
| Date: |
Jun 2005 |
| Broker: |
N/A – Repeat Borrower |
| Senior Loan: |
N/A – Whole Loan Issued by MF |
| Description: |
Borrower has closed a number of bridge transactions with Mountain Funding, most of which required quick closings. In this instance, the loan had to close within 3 weeks. Previously, Mountain Funding and Borrower had agreed to establish a fixed pricing, due diligence and documentation format enabling them to continue to close deals quickly and take advantage of opportunities while the condo craze lasted. Three other similar condo transactions have been identified to close within the month.
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