Funded $189,000 for 3 unit refi to rehab in Chicago

We did this refi of a half rehabbed property to save it from foreclosure. The borrower did not have enough money to finish the loan with the original hard money lender so we paid off his loan for $76,000 and gave him another $113,000 to finish it. He will make $62,000 on the property when he sells it based on After rehab value.