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


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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: $159,375
Location: Richmond, CA
Date Funded: June 2019

Our borrower located a quintessential fixer upper in Richmond, California. Speed of execution was critical to get the property off the market at a below market acquisition cost. 5 Arch delivered the financing solution, providing the added benefit of high leverage.

SCOTSMAN GUIDE LEAD
Archway Fund
Los Angeles, CA
Contact: Marissa Wilbur & Tom Noble  |  (310) 447-8899  |  info@archwayfund.com
Property Photo   Property: Industrial
Purpose: Refinance
Loan Amount: $4,650,000
Location: Fairfield, CA
Date Funded: July 2019

A $4.65M refinance, cash-out loan secured by a 23k SF, fully-occupied, industrial building located in Fairfield, Solano County CA. Sponsor’s mortgage was maturing, requiring a quick close to bridge the gap until the property sells while allowing a $1M cash-out for other investments.

Cherrywood Mortgage LLC
Diamond Bar, CA
Contact: National Sales  |  (800) 819-4199  |  info@cherrywood.com
Property Photo   Property: Multifamily
Purpose: Refinance
Loan Amount: $5,000,000
Location: Overland Park, KS
Date Funded: June 2019
Broker Fee: $100,000

Cherrywood Mortgage recently funded a $5,000,000 rate and term refinance for a pool of 44 single-family properties in Overland Park, Kansas, providing borrower with a new, 30-year term loan.

Citadel Servicing Corp.
Irvine, CA
Contact: Sales |  (949) 900-6630  |  sales@citadelservicing.com
Property Photo   Property: 7-Unit Multifamily
Purpose: Renovation
Loan Amount: $925,000
Location: Los Angeles, CA
Date Funded: May 2019
Broker Fee: $24,075

Citadel Servicing efficiently funded this mortgage request on a property with deferred maintenance plus 2 hard money loans due and payable. The result was a 7/23 loan that provided increased net income of $1000 and enough cash in hand to complete the needed improvements.

Citadel Servicing Corp.
Irvine, CA
Contact: Sales |  (949) 900-6630  |  sales@citadelservicing.com
Property Photo   Property: Assisted Living Facility
Purpose: Cash-Out Refinance
Loan Amount: $250,000
Location: Miramar, FL
Date Funded: April 2019
Broker Fee: $5,000

This DSCR request made to an LLC on a free and clear property currently in use as a six-bed care facility located in Miami. The result was a 5 year fixed term/25 ARM term no-balloon loan that provided cash in hand for further investment and contained no points or other lender fees charged to borrower.

Kennedy Funding Financial
Englewood, NJ
Contact: Loan Officer  |  (800) 342-8500  |  info@kennedyfunding.com
Property Photo   Property: Residential Development
Purpose: Cash-Out Refinance
Loan Amount: $1,575,000
Location: Manassas, VA
Date Funded: July 2019

The borrower acquired the property in 2002. Since then it was granted preliminary approval for two residential subdivisions of single-family homes. The borrower plans to use the loan to pay off an existing first mortgage while the remainder will be used for working capital.





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