Inner Circle Capital Advisors successfully arranged a cash out refinance for a 15-unit, multi-tenant office property located in downtown Portsmouth, VA. The borrower had acquired the property several years ago when occupancy was around 50% and in need of significant upgrades. The borrower spent the last few years updating units and boosting occupancy to 90%+ and ultimately increased the property’s value by over 120%. The loan was completed using a private lender and a lite-doc program that did not rely on the borrower’s financials or tax returns.
Capital Advisors: Chris Peters
