Recent Closings
Location: Dallas, TX
The note was coming due in 30 days and the current note holder was only offering a monthly adjustable rate option. The local bank had also turned this one down. In addition the borrower’s biggest tenant, who occupied 40% of the property, had a lease that was set to expire soon. The owner did not want to approach them early to re-negotiate the lease and give the tenant the upper hand in the negotiations. We were able to structure the loan and get it approved and funded in 34 days from start to finish!
Needless to say the owner is thrilled with us.So call us today at 281-286-3040
$750,000 Retail Purchase
Where: Jacksonville, FL
The tricky part of this loan was that it was not really investor, and not really owner occupied. They buyer is a tenant in the retail strip center with about 30% of the property-so SBA and other “owner occupied” deals did not work. The other tenants did not cash flow the property enough to support the debt for an investor loan. In the end, we did this loan on our in-house lending platform as an owner occupied property and got it closed in less than 45 days. With our resources….you can count on us to get your deal closed.
Call Vic Kini today at 281-286-3040 to fund your next commercial deal!
$440,000 Furniture Retail/Warehouse Refinance
Where: Lexington, SC
Bank was getting ready to foreclose on this property since the note was due and the client had failed to get financing to refinance it. His problem was that he had a horrible 2009 and though he had good financials for 2010, would not have his tax returns done in time before the foreclosure happened. We closed the deal with our private money bridge fund allowing him the time to file his returns, get his ducks in a row, and save the property which had good equity in it and he did not want to lose. Another day, another successful closing.
If you have to refinance your commercial property for any reason, give Vic Kini a call at 281-286-3040
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