Oklahoma City, OK

The Opportunity

An investor looking to purchase this 26-unit Oklahoma City apartment complex ran into issues with their current lender. They had third-party reports in hand but needed a lender to underwrite and close the loan quickly. They also wanted to include rehab funds in the loan.

The Solution

Lima One picked up the file in November 2022 and issued an LOI within two days. The loan
was closed and funded just two weeks later, providing the investor the financing needed to complete the transaction. The interest-only bridge loan covered 77% of the cost of purchase plus rehab, and offered non-recourse financing with no interest paid on undrawn construction funds.