Commercial Lending Question (municipal entity loans)

Real Estate Broker/Owner with Icon Real Estate - Houston North

I found myself a little bit lost today when one of my loan officers asked where they should take a 3.2M commercial loan for a county entity. Apparently it's a high-LTV purchase (land + improvements), and the loan will be secured/backed by the county tax base. It's in Harris County (Houston). Aside from my contacts at local retail banks, I can't find any info about how these loans work.

Details (as requested by the Harris County Dept head via my loan officer):

Borrower: Harris County (medical or ambulance-related department)

Purchase Price: $3.4M

Down Payment: $250k

Term: TBD

Payments: Payments to be made once a year (per budget).

Property Type: commercial land + warehouse

Any advice or direction is appreciated.



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