Scotsman Guide - February 2019 Commercial Edition

FEBRUARY FEATURED DEALS

To list your closed loan, contact advertising@scotsmanguide.com or call (800) 297-6061

Done Deals

The following companies are proud to announce these closed loans.

Property: Automotive

Purpose: Cash-out refinance

Loan Amount: $1,715,000

Location: Liberty Hill, TX

Broker Fee: $60,000

Silver Hill Funding, LLC helped a business owner who wanted to take cash out of their existing mortgage to pay off cash advances and improve their property. Thanks to Silver Hill’s Bank Statement Program, they got approved through 12 consecutive months of business bank statements instead of tax returns.

Property: Office
Purpose: Acquisition and refinance
Loan Amount: $5, 100,000
Location: Atlanta, GA
Date Funded: September 2018

Columbia Pacific Advisors funded a loan for a $5.1M acquisition and refinance secured by t wo office and medical office properties located in Atlanta, GA. Loan proceeds were utilized to acquire and provide tenant and capital improvements for the medical offices as well as refinance the office property.

Property: Commercial
Purpose: Refinance
Loan Amount: $2,600,000

Location: Whitehorn, CA
Cash out refinance on this stunning hotel located on
the coast in CA. With low LTV and current issues with
the SBA subordinating to 2nd lien position, Fidelity
Bancorp Funding was able to close the loan. Contact
us today! (877) 585-FUND

Property: Mobile home park
Purpose: Refinance
Loan Amount: $1,700,000
Location: Iowa
Date Funded: November 2018
Broker Fee: $17,000

$1,200,000 cash out. Borrower had difficulty financing due to property being a co-op. We liked the property due to a high debt service ratio and found a solution to the vesting issues so we could close. Property also had some environmental concerns. We obtained a one-off environmental insurance policy to close.