Case Study
Cash-Out Bridge Loan with Construction Holdback, Mixed-Use, Wailuku, Maui
- Loan Amount
- $4,600,000
- Total Loan Amount
- $4,600,000
- Construction Holdback
- $188,238
- Loan Term
- 9 Months
- Property Type
- Mixed-Use and 2 Residential-Zoned Land Parcels
- Private Loan Type
- Cash-Out Bridge Loan with Construction Holdback
Deal Summary
Myers Capital Hawaii funded a $4,600,000 cross-collateralized cash-out bridge loan with a construction holdback for an experienced real estate investor and repeat client in Wailuku, Maui. The collateral comprised a mixed-use property and two residential-zoned land parcels. The financing included an initial loan amount of $4,411,762 and a $188,238 construction holdback. The borrower’s exit strategy was to complete construction and refinance into long-term financing.
Source photography is illustrative and may not depict the actual subject property, as disclosed in the original article.
Deal Highlights
- Cross-collateralized financing secured by mixed-use property and two residential-zoned land parcels.
- $188,238 construction holdback within a $4,600,000 total loan.
- Experienced real estate investor and repeat client.
- Exit strategy: complete construction and refinance into long-term financing.
Property & Loan Details
- Property City
- Wailuku
- Property State
- HI
- Initial Loan Amount
- $4,411,762
- As-Is Property Value (Combined)
- $6,060,000
- After Repair Value (Combined)
- $6,740,000
- Lien Position
- First
- Loan Term (months)
- 9
- Exit Strategy
- Complete construction and refinance into long-term financing