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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LYNK Capital
Raleigh, NC
Contact: Jarrod Ellis  |  (321) 209-6871  |  jarrod@lynkcapital.com
Property Photo   Property: Multi-Property
Purpose: Construction
Loan Amount: $786,700
Location: Townsend, DE
Date Funded: April 2019

LYNK Capital, a private lender in residential renovation, construction & rental loans, funded this new construction project for 6 townhome units. The lots were acquired for $210,000 and the borrower will build with a budget of $744,000. The borrower came to LYNK Capital for a quick close & experienced team.

Money360 Inc.
Ladera Ranch, CA
Contact: Gary Bechtel  |  (888) 908-7027  |  creloans@money360.com
Property Photo   Property: Multifamily
Purpose: Acquisition & Development
Loan Amount: $15,925,000
Location: Lafayette, LA
Date Funded: April 2019

This property was not stable and the borrower wanted to make major renovations and upgrade. Money360 provided acquisition financing with future fundings for property improvements, and upgrades to all units.

SCOTSMAN GUIDE LEAD
PB Financial Group Corp.
Los Angeles, CA
Contact: Pouyan Broukhim  | (877) 700-3703  |  pouyan@calhardmoney.com
Property Photo   Property: Condo
Purpose: Cash-Out Refinance
Loan Amount: $1,500,000
Location: Beverly Hills, CA
Date Funded: May 2019
Broker Fee: $30,000

Property was listed on the market and borrower needed $1,500,000 on a stated income program to close on another property. We completed the transaction from beginning to end in 12 business days

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: $151,000
Location: Leland, NC
Date Funded: March 2019

New investors were looking to purchase the subject property & make repairs. RCN was able to make a loan at 70% of the after-repaired value. The investors anticipate spending about $19K in renovations to the property prior to listing it for resale. Once sold, the investors expect a 15% return on investment.

SCOTSMAN GUIDE LEAD
Seattle Funding Group Ltd.
Bellevue, WA
Contact: John Odegard  |  (425) 455-1733  |  info@sfgfunds.com
Property Photo   Property: Apartments
Purpose: Construction
Loan Amount: $1,776,000
Location: San Diego, CA
Date Funded: April 2019

Seven alley-fronting, new units on a small footprint behind an existing, tenanted SFR. Four story walk-up with one deed-restricted, lower income unit. A process delayed by myriad external factors that created a 291-day deal turned into a successful opportunity for the sponsor.




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