MIAMI --- Absolut Financial Resources arranged a $2.8 million loan to MidBay Properties LLC. The borrower refinanced property to reduce rate and improve the property.
This water-front multifamily property includes 23,609 square feet and is situated on almost an acre. The two-story building includes 21 waterfront one-bedroom and two-bedroom units with balconies, and six street-side units. Amenities include parking spaces, a seawall, fishing and boating pier, pool, barbeque grilling area, covered patios, sunset balconies and on-site laundry facilities.
Absolut Financial Resources finances various types of commercial real estate. Based out of Miami, with over 27 years’ experience, AFR is known for experience and creative structuring in providing loans which meet their borrower’s requirements.
Absolut Financial Resources arranged the $2,800,000 loan at a very competitive interest rate, 10 year term, 25 year amortization.