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Follow on Google News |  iCapital Options closes $9,700,000 Bridge Loan, Setting a New Standard for EfficiencyBy: iCapital Options Facing a challenging deadline with the Sponsor's previous loan maturing within 9 days and unsuccessful attempts at conventional refinancing, iCapital Options swiftly responded to the urgent need. Mason Simmons, Chief Financial Officer of iCapital Options, stated, "The Sponsor sought maximum flexibility concerning deed releases in the event of portfolio segments being sold. Within a 48-hour timeframe from the initial request, iCapital Options provided a comprehensive term sheet, showcasing our team's demonstrated proficiency in swiftly closing complex loan transactions." Dedicated to meeting the 9-day window before the Sponsor's existing loan matured, iCapital Options demonstrated adeptness in handling complex scenarios, a tight timeline, and devising creative solutions. The successful loan closure not only adhered to the required timeframe but also provided the Sponsor with the essential capital to realize property improvement plans for the two office buildings and address all pertinent business needs. The loan terms feature a competitive 9.5% interest rate and 2 points over a 48-month term, with a loan-to-value ratio of 80%. An exception was made for the higher loan-to-value ratio considering a prior relationship one of our firm's principals had with the Borrower, underlining our confidence in their ability to deliver. iCapital Options remains committed to delivering exceptional financial solutions, combining efficiency with personalized attention to meet the unique needs of our clients. Contact Information: Alexander Hoffman 1545 River Park Dr, Sacramento, CA 95815 (916) 836-1771 Info@iCapital- https://iCapital- End
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