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05-01-2024, 02:53 PM #1
- Join Date
- Jun 2020
- Location
- Missouri
- Posts
- 59
Second Mortgage for commercial retail center
I have a client with a brand new retail center in Columbus, OH with 14 units that is 100% leased out. Tenants will be able to start moving in to their units in June and July. He needs to install several HVAC units and have additional operating capital until the center opens and it starts bringing in income. The monthly income will be $26,900. He is looking for a $200,000 Second Mortgage behind a $600,000 First. Estimated "As is" value is $3MM with an after upgrades installed value of $3.2MM. Using the "As is" value puts the CLTV at 27%. Any thoughts on who can do this?
Tom Harrier
Integrity Commercial Loans, LLC
broker@tomharrier.net
407-928-8542
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05-01-2024, 03:01 PM #2
Tony might be able to help you with this....equipment and W/C
Tony Borchello
Director of Commercial Lending
Tony@financeitforward.com
888-211-2192
949-800-5767
Also Corey does second mortgages but not sure what he can do pre-revenue:
Corey Rockafeler
2100 Geng Road,
Suite 210
Palo Alto, CA 94303
Office Phone:*650-331-0750
Fax: 650: 618-1637
Mobile: 646-399-8813E-
Fax:650-618-1637
Email:*corey@amcredit.comSteve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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05-01-2024, 03:47 PM #3
Sherpa Capital Group | http://www.sherpacapitalgroup.com
Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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