Experienced
Private Lender for Non-Recourse Bridge Loans

Inland Mortgage Capital successfully closed, through its subsidiary, a non-recourse bridge loan on a 60,553 square foot shopping center in Rancho Cucamonga, CA.

The $8,400,000 loan facilitated a payoff of an existing CMBS Loan nearing maturity, while also facilitating relocation and right-sizing certain existing tenants, as well as funding leasing costs to backfill the to-be vacated space. The property is very well located in an established retail corridor with significant traffic counts.

Inland Mortgage Capital was able to close the loan in 26 days from the receipt of the application.

Inland Mortgage Capital closed a $10.6 million non-recourse bridge loan on a 155 unit multifamily asset located just east of the Charlotte CBD. The loan represents 73% of the stabilized Loan-To-Value, but significantly higher in comparison to the “as is” Loan-To-Value.

The loan proceeds provided funds to complete the acquisition and facilitate the interior and exterior renovations. The Borrower was buying the property from a Seller who had mostly vacated the property and had commenced the rehab. Various challenges plagued the rehab efforts by the Seller and minimal units were in market rent condition at the time of closing. Accordingly, the transaction went thru multiple adaptations between the application and closing. IMC increased the loan amount to allow for unforeseen additional renovation work and, structured the future fundings to adapt with the evolution of the transaction.

The Charlotte, North Carolina multifamily market is showing continuous growth outwards from the CBD. Upon closing, the property was 51% occupied with only 11% of the units in market rent condition. IMC demonstrated the flexibility and certainty of closing to allow the Borrower to move forward on a transaction that should prove to be a great opportunity.

Inland Mortgage Capital announces the closing of a $7,500,000 non-recourse bridge loan on a medical office building in Suwanee, GA. The loan will be used to refinance an existing loan, for future tenant improvements and leasing commissions.

The three-story, 52,410 SF property contains a diverse mix of medical tenants throughout 17 suites, with a physical occupancy rate of 70%. The deal was highly structured in that the Borrower had bought the deal as a single tenant credit master lease nearly 15 years ago, and the lease will be expiring at the end of 2019. With the pending expiration of the master lease, the Borrower had arranged to enter into direct leases with the various doctors who were subleasing space in the building.

Despite the efforts, the building was going to have a dramatic reduction in Net Operating Income within a few months of the closing, due to the master tenant wishing to reduce its obligations at the building.

The property was very well-located near two hospitals, and many of the existing medical tenants have expressed an interest in extending their leases and/or expanding within the building. In addition, the submarket is growing exponentially.

The Borrower needed a Lender with extreme flexibility that could close quickly, as it was facing a pending maturity date of its existing loan, and an expensive fee for going past the maturity date. In addition, the Borrower was unable to meet the pre-leasing requirement in the initial terms due to one of the tenants being unable to sign the extension in time.

IMC structured around the obstacle for the Borrower and got the deal closed. The Borrower should be in good position to seek permanent financing with the cleanup of the unusual structure and will be able to execute on perm financing, “when ready”, due to Inland Mortgage Capital not requiring any prepayment protection. 

Inland Mortgage Capital successfully closed an $8,250,000 non-recourse bridge loan on a 12-story office building located in the CBD of St. Louis, MO. The loan proceeds provided funds to refinance the current debt, fund leasing costs to re-stabilize the property, and provide a partial return of equity capital to the borrower.

The property, which lost a major tenant due to consolidation, was 51% occupied at the time of closing. Despite the lease up risk, IMC got comfortable with the experienced sponsor who has a proven track record of working with value-add office properties , the significant capital improvements completed at the property, and the continued growth and redevelopment in the neighborhood and surrounding area. In addition, the borrower was in preliminary discussions with multiple tenants related to expansion opportunities within the building.