Phoenix Creative Office

Phoenix Creative office currently consists of a 1940-built, single story, light industrial building which is currently in the process of being rehabilitated and remodeled into a creative office building with a total net rentable building area of 19,639 sq. ft. which is located on a corner lot comprising 1.035 acres. iBorrow’s loan was secured by a first deed. The property was purchased as part of a larger assemblage of land for a project that included the conversion of the subject property from a warehouse to creative office, along with the development of approximately 300 multi-family units which are currently being entitled. The sponsor is a high net-worth individual with a proven track record in corporate finance, entrepreneurship, and real estate.

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  • Property Type Office
  • PurposeRefinance
  • Gross Annual Coupon9.50%
  • Loan Amount$1,600,000
  • Loan to Value39.6%

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