$1,600,000 Office Equity Recapture Loan Closed

513 Capital, a Cincinnati based finance intermediary, is pleased to announce the closing of a $1.6MM Equity Recapture Loan.

The borrowers/owners of the property recently purchased this 36k rental square ft. office property from out of state owners below market value. At closing, new ownership brought in a new tenant increasing occupancy 20%. Their purchase price was $1.65MM and within a few months 513 Capital was able to arrange a loan returning nearly all of their equity investment. The loan is amortized over 30 years and without a PPP after year 2.

513 Capital specializes in bank, SBA, CMBS, and private commercial real estate funding.

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