PROJECT DETAILS

V3 Lending successfully closed a $2.098M loan to acquire a dry cleaning plant in Plano, Texas. V3 Lending was able to use equity that the client has in an existing asset in order to provide 100% financing on the acquisition. The loan was structured on a 25 year term with a 5.25% interest rate. During the due diligence process, the property showed evidence of contamination. V3 Lending hired and worked with an EPA engineer to admit the property in the State's remediation program and funded the acquisition within an acceptable time period.