Kansas Restaurant Closes Cash Out Refinance
Kansas is known for their stellar restaurants and hospitality! We truly enjoyed helping our client to close on a cash-out refinance of a single-tenant restaurant located in Manhattan, Kansas in March of 2023. The funds for this deal will be used to pay down a seller’s note, which will then entitle them to the rent paid by the tenant. This loan request was $975,000.00 and had a 65% LTV. The property sits on .59 acres and includes a total of 2,556 square feet.
Refinancing on South Carolina Restaurant Closes
A Summerville, South Carolina client closed on the refinance of their 6,132 sq. ft. restaurant on April 22, 2022. We were excited to help our client on this deal. The refinanced funds will be used to complete the construction of their restaurant and make any other improvements moving forward. The requested loan amount for this deal was $975,000.00 with an LTV of 55.7%.