We are pleased to announce that Archway Fund has financed a $6,000,000 refinance and cash-out loan on a 55,000 SF mixed-use, retail property located in East Austin, TX. Proceeds were used to retire existing debt and cash-out for business purposes. The Subject is located in the East Cesar Chavez neighborhood which is an increasingly trendy neighborhood of Austin undergoing a revitalization. The property is a non-traditional product type of industrial buildings converted to creative, mixed-use retail consisting of about 25 tenants.
Why Archway Fund? The borrower chose Archway Fund due to their requirement for a lender with a non-bureaucratic approval process and ability to structure the deal with non-recourse, cash-out, quick close, and no appraisal required.
Loan Details: $6,000,000 Loan, 12-month term
Please contact Marissa Wilbur for all new loan submittals. Marissa can be reached at 424.270.0168 or firstname.lastname@example.org