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ocap99
3 Posts |
 Posted - 05/19/2008 : 2:40:24 PM
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Hi All,
I need help with a Bridge loan / Take out loan on a shopping center in CA....
Any help/info would be highly appreciated. This is a
brand new shopping center that consists of close to 26,000 square feet of office space (2 story building) and about 18,000 square feet of retail space (one story) on 2.5 Acers of land. . It has been recently appraised for over 9,000,000.00 as is, and 11,000,000 when stabilized. I would really appreciate if you could provide info on where to go for this, or if you do this, that is even better. Thank you in advance.
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KHufford
5998 Posts |
Posted - 05/19/2008 : 2:42:13 PM
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Where are they at exectly in the process? Why not do the contruction loan? I keep seeing tons of these...I think they are simply busted projects...
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BASE
96 Posts |
Posted - 05/19/2008 : 2:54:11 PM
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I can help! Give me a call or shoot me an email and we can run over everything!
Types of Loans: 1st Mortgages: $500,000.00 to $10,000,000.00
2nd Mortgages: $500,000.00 to $2,000,000.00
3rd Mortgages: with exceptions
• Cross-Collaterize to maximize loan amounts.
Types of Properties: Apartment Buildings and Multi-Family Use, Condo Conversions, Casino’s, Land, Office Buildings, Retail and Shopping Centers, Hotel - Motel, Industrial Buildings, Warehouse and Industrial, Medical Buildings, Strip Malls, Unoccupied Buildings, Restaurants, Storage Facilities
CLTV: up to 75%, exceptions available.
Location: California and Nevada only
Loan Terms: 1 month to 2 years
Prepayment: From no Pre-pay to a 6 month soft Pre-pay
Rates: 12 to 18% interest only, depending on the property
Fees: 4-8 points, included in the loan.
Closing Costs: Standard third party costs’ include but are not limited to title and escrow.
Types of Borrowers: Individuals, Corporations, LLC’s, Trusts, Combined multiple borrowers in a single transaction. Non-FICO driven.
Funding Time: 5 -7 business days with complete package
TJ SOKOLL
714-232-3864
Tellus Capital
TJ@TJSokoll.com |
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veroman
21 Posts |
Posted - 05/19/2008 : 4:06:30 PM
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| Try John Taxiarchos at World Capital Bancorp in Boston. Commercial bridge loans are their specialty. john@worldcapitalbanc.com 888-922-3003. I have not used him, but what he has sounds like what you need. |
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mvitasa
63 Posts |
Posted - 05/19/2008 : 9:43:56 PM
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we may be able to help but will need more details. please email me mvitasa@firstbeaconfinancial.com
thank you. |
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dkendall1979
10284 Posts |
Posted - 05/19/2008 : 9:52:08 PM
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If it's a structure we'll lend on, you won't find a better deal. Email me.
9.9%IO
No PPP
No appraisal needed
12-36 month term
1 week closings
Chances are we've already seen it, but you never know.
quote:
Originally posted by ocap99
Hi All,
I need help with a Bridge loan / Take out loan on a shopping center in CA....
Any help/info would be highly appreciated. This is a
brand new shopping center that consists of close to 26,000 square feet of office space (2 story building) and about 18,000 square feet of retail space (one story) on 2.5 Acers of land. . It has been recently appraised for over 9,000,000.00 as is, and 11,000,000 when stabilized. I would really appreciate if you could provide info on where to go for this, or if you do this, that is even better. Thank you in advance.
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lenderben
1081 Posts |
Posted - 05/20/2008 : 06:07:31 AM
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we specialize in hard money bridge loans. send me the summary and i will respond quickly.
.
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Mark_GMC
579 Posts |
Posted - 05/20/2008 : 07:52:47 AM
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| We have a definite interest in your scenario, though well need a few additional details in order to provide the most accurate pricing and deal terms. Fortunately our online submission form takes only a minute to complete. Please find the link below and call if you have any questions. |
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