Scotsman Guide > Commercial > Directories > September 2019

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Done Deals: September 2019

 

The following closed deals are advertised in this month issue of Scotsman Guide Commercial Edition.

Past Done Deals are in the archives. browse archives


SCOTSMAN GUIDE LEAD
FEATURED DEAL
Stronghill Capital
Austin, TX
Contact: Eric Thomas  |  (855) 490-6671  |  ethomas@stronghill.com
Property Photo   Property: Short Term Rental
Purpose: Cash-Out Refinance
Loan Amount: $780,000
Location: Jacksonville Beach, FL
Date Funded: June 2019
Broker Fee: $7,800

The property is a short term, vacation rental that has been operating as such since 2008. The borrower came to Stronghill via a broker and was looking for cash-out to purchase additional investment property. We were able to underwrite the loan using the short term rents and get the cash-out that he requested.
   
FEATURED DEAL
Commercial Loan Center LLC
Plymouth Meeting, PA
Contact: Carl Shorley  |  (610) 990-6050  |  cshorley@clcllc.net
Property Photo   Property: Retail/Office/Restaurant
Purpose: Cash-Out Refinance
Loan Amount: $660,000
Location: Bunnell, FL
Date Funded: June 2019
Broker Fee: $6,600

The borrower bought the property 10 months ago and the new appraisal came in $300,000 greater in value. We gave full appraised value. Borrower credit dropped during processing and we still gave 75% LTV as offered. We paid off back taxes and gave cash out.
   
FEATURED DEAL
Silver Hill Funding LLC
Coral Gables, FL
Contact: Juan Barcelo  |  (844) 346-2909  |  info@silverhillfunding.com
Property Photo   Property: Mixed-Use
Purpose: Cash-Out Refinance
Loan Amount: $423,750
Location: Denver, CO
Broker Fee: $9,887

This borrower wanted to tap into the equity in their mixed-use property but they did not wish to produce tax return documentation. Thanks to the Silver Hill Funding, LLC Bank Statement Program, they were able to get qualified through 12 consecutive months of business bank statements in lieu of tax returns.
   
SCOTSMAN GUIDE LEAD
FEATURED DEAL
Fidelity Bancorp Funding
Orange, CA
Contact: Loan Origination Team |  (877) 585-3863  |  info@fbfloans.com
Property Photo   Property: 8-Unit Multifamily
Purpose: Refinance
Loan Amount: $1,365,000
Location: Whittier, CA
Date Funded: June 2019

Bridge loan to refinancing. Fidelity Bancorp Funding was able to fully service the entire need for an 8-unit multifamily purchase of $1,365,000 in Whittier, CA. Borrower’s initial purchase via a bridge loan leveraged the asset by raising rents and refinanced. Great rates - broker friendly - nationwide.


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