Opportunity: The borrower had a short timeframe to buy-out his existing partner with a cash-out
refinance on a 32-unit property AND simultaneously acquire the neighboring 48-unit community.
Solution: Direct Lending Partners funded a bridge loan across both properties at 80% of purchase
and renovation costs, and closed in under two weeks with a post-closing appraisal.
Loan Type: Multi-family
Purpose: Purchase & Rehab
Loan Amount: $4,312,500
Location: Port Richey, FL
Date Funded: September 2018