Cash-Out Owner-Occupied Industrial Phoenix, AZ
BOLOUR recently funded a $10 million loan to refinance a 160,000 square foot owner-occupied industrial manufacturing facility in Phoenix, AZ. The borrower required a loan that could close quickly, provide needed liquidity, and fund reserves for capital improvements. The borrower’s lack of liquidity and financial strength prevented the company from qualifying for a SBA loan. BOLOUR provided a 24-month bridge loan at 65% of the property’s appraised value.