Scotsman Guide > Commercial > Directories > March 2017

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Done Deals: March 2017


The following closed deals are advertised in this month issue of Scotsman Guide Commercial Edition.

Past Done Deals are in the archives.  browse archives

Patch of Land
Los Angeles, CA
Contact: Tameer Orevi  |  888-445-6046  |
Property Photo   Property: Single-family home
Purpose: Purchase & rehab
Loan Amount: $1,416,050
Location: Los Angeles, CA
Date Funded: November 2016

Patch of Land provided a loan for the purchase & rehab of a single-family home in the Brentwood neighborhood of Los Angeles. The loan was for 85% of the $1.3M purchase price and 100% of the $300K rehab budget. The loan funded within 9 days of application with limited documentation. The borrower expects to yield a significant profit when the property sells within 12 months.
Commercial Loan Center LLC
Blue Bell, PA
Contact: Carl Shorley  |  610-990-6050  |
Property Photo   Property: 2 mixed-use bldgs
Purpose: Blanket purchase
Loan Amount: $260,000
Location: Pawtucket, RI
Date Funded: December 2016

CLC closed this loan in two weeks. Another lender had turned down these two mixed-use properties due to low occupancy and wording about poor demographics in their appraisal. CLC evaluated the deal, structured an escrow, used the existing appraisal and closed the loan. Broker made $$$ on a deal that was dead.
Silver Hill Funding
Coral Gables, FL
Contact: Michael Boggiano   |  888-988-8843  |
Property Photo   Property: Retail
Purpose: Refinance
Loan Amount: $940,000
Location: Flushing, NY

Silver Hill (a division of Bayview Loan Servicing LLC) helped a borrower who needed to refinance their retail property in New York. Thanks to Silver Hill’s Lite Doc Program, they were able to secure a 30-year, fully amortizing loan without providing tax returns or a 4506T. The broker earned $18,800.
Burr Ridge, IL
Contact: Rocky Rainbolt   |  214-414-9834  |
Property Photo   Property: 20-unit complex
Purpose: Line of credit
Loan Amount: $1,100,000
Location: Dallas, TX

Prime location! Line of credit provided for improvements to The Trails Apartment Complex.

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