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Sources Of Financing
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Sources Of Financing Aries Capital (312-642-0100) and Urban Development Fund, LLC provided $3.8 million in equity investment and $3.1 million in construction and permanent interest-only loans for a historic property in the Cincinnati, OH area. The 138,000 sq.ft. retail, light industrial, office and condominium buildings located on Colerain in Camp Washington, OH received the funding for the complete renovation of the property. The project consists of two large buildings and one smaller building with 60 condominiums and 46,120 sq.ft.
Real Estate Equities and Financing, Inc. (619-544-9077) offers loans for commercial and industrial properties. The company offers loans up to $15 million, LTV of 75%, fixed-rate terms of three, five, seven and 10 years and amortization of 30 years. The company also offers rates as low as 5.5%
Suburban Capital Markets, Inc. (301-340-2266) arranged a $10.5 million first mortgage loan for the refinancing of Seeger Square Shopping Center in St. Paul, MN.
Martin Capital Group (270-354-6394) offers loans from $1 million to $5 million for retail, mixed-use, single tenant drug stores, office, industrial, multi-family, mobile home parks and self-storage facilities. For loans under $3.5 million, all third party and legal costs are capped at $9,900 for all of the standard property types (excluding single-tenant drug stores). Loans from $3.5 million to $5 million feature low third party and legal costs. Drug stores are capped at $11,000. The company also offers user-friendly loan documentation, LTVs of 75% to 80%, closings in 60 days or less and an amortization up to 30 years.
Johnson Capital (949-660-1999) arranged a permanent loan of $4.5 million to refinance Palmdale Town Square Shopping Center located in Palmdale, CA. The center is currently 98% occupied and is tenanted by Cinemark USA, High Desert Medical Group, U.S. Post Office, IHOP and the Department of Motor Vehicles. The company also arranged a permanent loan of $5 million to refinance Jungle Jim Plaza, a center located in Mesa, AZ. The center is currently 98% occupied and is tenanted by Jungle Jim’s Playland, 2nd Go Round, Carefree Childcare, Inc., Neighbor’s Garden Café and Arby’s Restaurant.
United Capital Group (248-236-9237) is seeking credit tenant lease financing opportunities on single-tenant properties or ground leases nationwide from $3 million and up. Loan term and amortization will run coterminous with the primary lease term. Tenants must be investment grade having a minimum corporate credit rating of BBB- or Baa3. Loan amounts up to 100% of value, underwritten with debt coverage as low as 1.00x are offered. Forward commitments will be considered on a case by case basis. |