Orlando, FL

The Opportunity

An experienced real estate investor had the opportunity to purchase a 63-unit multifamily complex in Orlando, Florida. The investor planned to upgrade building exteriors, add to the complex’s amenities, and upgrade interior finishes in each unit so that they could increase rents and raise the overall class of the property.

To seize the opportunity on this deal, the investor needed a multifamily bridge loan that could be closed quickly. They approached Lima One.

The Solution

Lima One offered a 30-day or less close on the property, allowing the investor to complete the purchase quickly. The value-add rehab loan covers the purchase price as well as a $1.3 million construction budget to allow the investor to execute their business plan. This interest-only loan covers 24 months but offers extensions in case unexpected delays arise.

Once complete, the investor will raise the value of the property to $11.5 million, with increased cash flow thanks to enhanced rents and occupancy. Lima One’s multifamily bridge loan gives the investor the best way to upgrade the property and prepare for long-term takeout financing and profit.