Our recent success story involves funding a $647,000 retail strip mall in New Jersey, showcasing our commitment to providing tailored financial solutions for diverse real estate needs.
Loan Details
– Loan Type: 5 Year Fixed
– Location: New Jersey
– Loan Amount: $647,000
– Purpose: Rate and Term Refinance
– Challenge: Partial Owner User
The Challenge:
One of the unique challenges of this project was the partial owner-user aspect of the property. This means that part of the retail strip mall was occupied by the owner, which can sometimes complicate the financing process. However, our expertise in handling such nuanced cases allowed us to navigate this challenge efficiently.
Our Lending Platform:
We have designed a lending platform that caters to a wide range of commercial real estate needs, offering financing from $100,000 to $10,000,000. Our portfolio includes multifamily, mixed-use, office, retail, light industrial, self-storage, automotive, mobile home parks, daycare centers, restaurants, bars, and warehouse property types.
Here are some highlights of our lending platform:
– Private Money Fund: Our fund is specifically designed for stated commercial and NOO (Non-owner occupied) residential real estate loans.
– Quick Closures: We typically close loans in 35 days or less, ensuring a swift and efficient process.
– Cash-Intensive Business Qualification: We qualify cash-intensive businesses based on 12 months of bank statements, making it easier for businesses with high cash flow to secure financing.
– Flexible Terms: We offer fixed rates with 25 or 30-year terms and amortizations, eliminating the need for balloon payments.
The Solution:
For the New Jersey retail strip mall, we provided a 5-year fixed loan of $647,000. The purpose of the loan was rate and term refinance, which allowed the owner to secure a more favorable interest rate and better loan terms. Our ability to close the loan in less than 35 days was crucial in meeting the client’s timeline and financial goals.
If you have a commercial or NOO residential property that needs financing, contact us today to learn how we can help you secure the funding you need.
