Scotsman Guide > Commercial > Directories > July 2019

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Done Deals: July 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

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5 Arch Funding Corp.
Irvine, CA
Contact: Michael Miller  |  (844) 497-5482  |
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.

Archway Fund
Los Angeles, CA
Contact: Tom Noble & Marissa Wilbur  |  (310) 447-8899  |
Property Photo   Property: Mixed-Use
Purpose: Refinance
Loan Amount: $6,800,000
Location: El Segundo, CA
Date Funded: April 2019

A $6.8M, 65% LTV, refinance loan secured by a mixed-use property located just outside the Smokey Hollow district of El Segundo, CA. Sponsors are foreign nationals and were in a technical default with their previous lender, therefore requiring a quick close to avoid default interest.

Cherrywood Mortgage LLC
Diamond Bar, CA
Contact: National Sales  |  (800) 819-4199  |
Property Photo   Property: Retail
Purpose: Purchase
Loan Amount: $4,275,000
Location: New Baltimore, MI
Date Funded: April 2019
Broker Fee: $128,250

Cherrywood Mortgage recently funded a $1,149,000 rate and term refinance of 3 industrial properties, one of which is owner-occupied, in Springfield, Illinois, providing the borrower with a new, 5-year fixed, 30-year fully amortizing term loan.

Citadel Servicing Corp.
Irvine, CA
Contact: Will Fisher  |  (949) 900-6630  |
Property Photo   Property: Motel
Purpose: Purchase
Loan Amount: $710,000
Location: Florence, OR
Date Funded: April 2019
Broker Fee: $14,200

Citadel Servicing assisted our broker and their borrower in purchasing this unique 27 room motel. We closed in 20 business days start to finish. The broker and borrower were ecstatic with the purchase and ease to fund.

Lima One Capital
Greenville, SC
Contact: Justin Thompson |  (864) 546-4356  |
Property Photo   Property: Apartments
Purpose: Purchase & Rehab
Loan Amount: $6,850,000
Location: Albany, GA
Date Funded: May 2019

Lima One Capital had previously closed a multifamily loan with the sponsors, so they knew the process and trusted Lima One to close their $6.85M project quickly. The high leverage allowed them to limit their down payment and use that capital for other investments.

Lone Oak Fund LLC
Los Angeles, CA
Contact: Alexa Mizrahi  |  (310) 826-2888 ext. 16  |
Property Photo   Property: Fully Entitled Land
Purpose: Refinance
Loan Amount: $4,000,000
Location: Los Angeles, CA
Date Funded: May 2019

$4,000,000 refinance of a 28,400 square foot fully entitled site in the Los Feliz neighborhood of Los Angeles. Developer will build 18 small lot detached townhomes. 6 month term at 7.90% interest only and 1.0 point. Non-recourse & no prepayment penalty. Exit strategy is a construction loan.

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