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Source of Financing
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Source of Financing Ackman-Ziff (212-697-3333) secured the following loans: $49 million for a 53,200 sq.ft. center located in Miami Beach, FL; $44.3 million for a 556,494 sq.ft. center located in Wyncote, PA; $44 million for a 284,000 sq.ft. center located in Cambridge, MA; $36 million for a 170,000 sq.ft. center located in Brooklyn, NY; $30.25 million for a 288,000 sq.ft. center located in Ballwin, MO; and $21 million for a 415,000 sq.ft. center located in Pittsburgh, PA.
Alpha-Omega Financial Corp. (888-316-0974) offers loans from $500,000 to $6 million for the following properties: retail buildings, strip centers, warehouse, industrial and office buildings. The company offers 25-year terms with no balloon, 80% LTV, no lock out period and a 1.25 DSCR. Rates start at prime, plus 2.10%. There is no lock out period, the company does not offer loans for apartments and will finance acquisitions and refinances.
Sage Capital Group (508-366-2260) offers loans for real estate transactions throughout CT, MA, NH and RI. The collateral must be real estate and the company offers short term loans, bridge loans, acquisition and development loans, restructuring, refinancing debt, rehabilitations and condominium conversions. Sage also offers fast closings and will work with credit problems, foreclosures, bankruptcy, loans for business owners, investors and builders.
Fowler Funding, LLC (201-963-3958) offers hard money loans from $500,000 to $50 million nationwide for all types of commercial properties, including land construction throughout NJ, NY and PA. The company can close fast, usually within seven to 10 days, with low documentation and is collateral-driven. Interest rates can go as low as 12% with interest-only amortization, no pre-payment penalties and LTV up to 75% on income-producing properties and 50% on land. The origination fee ranges from 2% to 5% taken at closings from the loan proceeds.
Peach Plus Financial, Inc. (770-649-6486) offers commercial loans from $250,000 to $300 million. Condominium conversion loans are offered at prime plus 1% and HUD financing programs are available. The company offers financing for strip centers, apartment buildings, apartment complexes, warehouses, motels and hotels. Clients can also fill out a quick application at www.peachplusfinancial.com or can call toll free at 866-809-8088. |