FM Capital Originates $5.5M Bridge Loan in Brooklyn, NY
Mar 4, 2020
FM Capital originated a $5.5M bridge loan secured by a newly built 20-unit apartment complex in Brooklyn, NY. Standing post-construction, the collateral was in its beginning stages of stabilization and completely vacant. Understanding this market, FM Capital was confident in its sponsor's ability to lease up efficiently once in a position to. The loan term is a short term 18-month loan. The Principal of FM Capital, Aaron Kurlansky says “Our bridge lending platform gives us the flexibility to fit each loan’s needs. This Brooklyn loan is not what I would call the ‘ideal loan’, but with our experience and structure we were able to navigate through and execute in it the best way we know how.”
