$5,000,000 - What would you do?

[Scott Cash]

I'm part of a three-member LLC that owns a $10M commercial property outright (each holding 33.3%). One member wants to be bought out and the other two want to develop new commercial product. I figure we have around 5M equity we can borrow against after 70% ltv and buying out the other member. With a blank slate, what would you do?

[Ronald Rohde]

This is really a lot of information packed into a densely worded post.

Yes, you can use loan proceeds to buy out another member, but it doesn't seem like you'll have enough to buy out and develop. Cash in from other members seems required.