Description:

iCapital Options, a private lending firm, recently closed two bridge loan transactions totaling $26.6 million, aiding the acquisition and expansion of self-storage and multifamily properties. The first loan, valued at $14.6 million, fueled the acquisition and enhancement of a New York-based facility, featuring 79,000 net rentable square feet of storage space, with an additional 7,000 square foot expansion financed through the new loan. This non-recourse bridge loan, comprising $13.8 million initial funding supplemented by $800,000 for future needs, boasts favorable terms including interest-only payments over a three-year term, floating rates, extension options, and prepayment flexibility. The second transaction, valued at $12 million, underscores iCapital Options' commitment to client-centric solutions. Alexander Hoffman's leadership proved instrumental as the company navigated a challenging scenario, ensuring success despite unforeseen obstacles. Reflecting on the deals' closure, Alexander Hoffman emphasized iCapital Option’s dedication to understanding clients' needs and delivering timely financial solutions. "The completion of these deals showcases our steadfast commitment to supporting clients, particularly in critical situations," said Alexander Hoffman. "We pride ourselves on comprehending client requirements and delivering effective financial solutions, regardless of challenges."