Scotsman Guide > Commercial > Directories > May 2019

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Done Deals: May 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


<< Continued

5 Arch Funding Corp.
Irvine, CA
Contact: Michael Miller  |  (844) 497-5482  |  mmiller@5arch.com
Property Photo   Property: Single-Family Rental
Purpose: Fix & Flip
Loan Amount: $823,700
Location: Boston, MA
Date Funded: February 2019

This borrower lined up a strong REO deal and, considering his recent experience, was able to get aggressive pricing to promptly secure this property. Since the borrower searches for projects of this size and scope, he was able to confidently get in and out of the project seamlessly with 5 Arch.

AB Capital
Newport Beach, CA
Contact: Joshua Pukini  |  (800) 658-1552  |  info@abc-funds.com
Property Photo   Property: Apartment
Purpose: Construction
Loan Amount: $8,500,000
Location: Oakland, CA

AB Capital, a direct lender & leader in residential, commercial & construction financing funded the acquisition & construction of this 38-unit apartment building in Oakland. This loan is set to fund in 4 phases over a 24-month term. The broker came to AB Capital needing a quick close & a team he could trust.

Cherrywood Mortgage LLC
Diamond Bar, CA
Contact: National Sales  |  (800) 819-4199  |  info@cherrywood.com
Property Photo   Property: Retail
Purpose: Purchase
Loan Amount: $3,130,700
Location: Ellijay, GA
Date Funded: February 2019
Broker Fee: $31,307

Cherrywood Mortgage recently funded a $3,130,700 purchase of this 20-unit retail property in Ellijay, Georgia, providing the borrower with a new, 5-year fixed, 30-year fully amortizing term loan.

LendTerra
Newport Beach, CA
Contact: David Crantz  |  (888) 512-7299  |  david@lendterra.com
Property Photo   Property: 16-unit Apartment
Purpose: Refinance
Loan Amount: $165,000
Location: Chicago, IL
Date Funded: January 2019
Broker Fee: $6,000

LendTerra assisted a referring broker to help secure a cash-out business loan for the client on a goat farm so another property can be purchased. Borrower was going to lose the purchase escrow deposit, and we were able to close within 5 days of receiving a complete package.

Lima One Capital
Greenville, SC
Contact: Justin Thompson |  (864) 546-4356  |  justint@limaone.com
Property Photo   Property: Multifamily Apartments
Purpose: Purchase & Rehab
Loan Amount: $1,500,000
Location: Cleveland, OH
Date Funded: March 2019

Lima One Capital completed this deal with a sponsor who has local expertise in the Cleveland metro and needed to close quickly. They are using the value-add loan to upgrade units and handle deferred maintenance before looking to refinance with a local bank lender. The sponsor was attracted to the 2-year term

Lone Oak Fund LLC
Los Angeles, CA
Contact: Alexa Mizrahi  |  (310) 826-2888 ext. 16  |  alexa@loneoakfund.com
Property Photo   Property: 32-Unit Apartment Building
Purpose: Purchase
Loan Amount: $7,507,000
Location: Venice, CA
Date Funded: March 2019

1st trust deed at 65% of the purchase price for a beachfront 32-unit apartment building. Building is mostly vacant and will be leased up. 12-month loan priced at 6.90% interest only and 0.75 point. No prepayment penalty, no yield maintenance, non-recourse.





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