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


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Money360 Inc.
Ladera Ranch, CA
Contact: Gary Bechtel  |  (949) 300-4281  |  garybechtel@money360.com
Property Photo   Property: Mixed-Use
Purpose: Refinance
Loan Amount: $8,595,000
Location: St. Paul, MN
Date Funded: December 2018

Flexible future funding. Flexible loan structure. Consolidated outstanding loans and provided capital for building a restaurant.

SCOTSMAN GUIDE LEAD
PB Financial Group Corp.
Los Angeles, CA
Contact: Pouyan Broukhim  | (323) 935-5555  |  pouyan@calhardmoney.com
Property Photo   Property: Retail
Purpose: Cash-Out Refinance
Loan Amount: $4,500,000
Location: Bakersfield, CA
Date Funded: March 2019
Broker Fee: $90,000

Borrowers’ conventional loan was coming due and they planned to sell the property in the next 6-12 months. They didn’t want to get another loan with a lengthy prepayment penalty so they got a 3-year bridge loan with us and a very short prepayment penalty. The loan was stated income and closed in 2 weeks.

Prescient Capital Management LLC
Delafield, WI
Contact: Steve Young  |  (262) 244-0797  |  syoung@pcm-funding.com
Property Photo   Property: Office Building
Purpose: Refinance
Loan Amount: $3,025,000
Location: Vail, CO
Date Funded: March 2019
Broker Fee: $100,000

The loan request was secured with a 1st lien on the borrower’s interest in a 17,600 square foot, two story retail building located in Vail, Colorado. In addition to the primary collateral, the borrower pledged $1.3 million in public stock and signed a personal guarantee, net worth exceeding $30 million.

RCN Capital
South Windsor, CT
Contact: Stephen Ballard  |  (860) 479-6399  |  sballard@rcncapital.com
Property Photo   Property: Single-Family Home
Purpose: Purchase & Rehab
Loan Amount: $139,901
Location: Bridgeport, CT
Date Funded: February 2019

An investor was looking to purchase the subject property as a flip. The investor planned to complete $33K worth of renovations before listing the property for sale. RCN was able to provide a loan for 60% of the after-repair value. The investor anticipates a 37% return on investment once the property is sold.


SCOTSMAN GUIDE LEAD
Seattle Funding Group Ltd.
Bellevue, WA
Contact: John Odegard  |  (425) 455-1733  |  info@sfgfunds.com
Property Photo   Property: Single-Family Residence
Purpose: Refinance
Loan Amount: $4,500,000
Location: La Quinta, CA
Date Funded: March 2019

This extraordinary spec. home in La Quinta’s finest private gated community, The Madison Club, features exceptional design and a solid sponsorship. SFG has previously provided many other high-end spec. bridge and construction loans throughout the best neighborhoods of the Coachella Valley.

SCOTSMAN GUIDE LEAD
Seattle Funding Group Ltd.
Bellevue, WA
Contact: John Odegard  |  (425) 455-1733  |  info@sfgfunds.com
Property Photo   Property: Single-Family Residence
Purpose: Construction
Loan Amount: $2,700,000
Location: Bellevue, WA
Date Funded: March 2019

High-end, spec. residential construction financing in Vuecrest neighborhood, Bellevue, Washington. This experienced builder and his veteran team built a 5,573+ sq.ft. home currently listed for $5,395,000 and is within a minute’s walk to Bellevue downtown corridor, I-405, 520 and I-90.




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