Scotsman Guide > Commercial > Directories > March 2019

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Done Deals: March 2019

 

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

Past Done Deals are in the archives. browse archives


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Maverick Commercial Mortgage Inc.
Chicago, IL
Contact: Ben Kadish  |  312-953-4344  |  ben.kadish@mavcm.com
Property Photo   Property: Co-living
Purpose: Construction
Loan Amount: $17,000,000
Location: Chicago, IL

Maverick secured a $17,000,000 construction loan for a ground-up co-living development in the Pilsen neighborhood of Chicago. The loan was funded by a regional bank and will finance the construction of the 223- bed property called Common Addams. It will be the largest co-living home in the Midwest.

Money360 Inc.
Ladera Ranch, CA
Contact: Gary Bechtel  |  888-908-7027  |  creloans@money360.com
Property Photo   Property: Multifamily
Purpose: Refinance
Loan Amount: $5,000,000
Location: Tennessee

Money360 provided a cash-out refinance loan that provided a lower rate loan and additional capital needed to resolve a liquidity issue. Certainty of execution was crucial to the borrower.


Patch of Land
Los Angeles, CA
Contact: 888-445-6046  |  originations@patchofland.com
Property Photo   Property: Single-family home
Purpose: Purchase & rehab
Loan Amount: $419,500
Location: Croton on Hudson, NY
Date Funded: January 2019

Patch of Land provided a 12-month residential refinance and rehab loan for this single family project in Croton on Hudson, NY. The loan funded at 65% of the $650K after renovation value, which included a $150,000 construction budget.

SCOTSMAN GUIDE LEAD
PB Financial Group Corp.
Los Angeles, CA
Contact: Pouyan Broukhim  | 877-700-3703  |  info@calhardmoney.com
Property Photo   Property: SFR
Purpose: 2nd
Loan Amount: $3,300,000
Location: San Marino, CA
Date Funded: January 2019
Broker Fee: $66,000

Borrower was a foreign national needing a 2nd position loan of $3,300,000 with over $1 million cash-out on his investment property that was listed for sale. Borrower required the cash-out to invest in his growing business. From start to finish the loan closed in 10 business days

Pender Capital
Los Angeles, CA
Contact: Zach Murphy  |  310-853-8001  |  zach@pendercapital.com
Property Photo   Property: Multifamily
Purpose: Refinance
Loan Amount: $3,000,000
Location: Kansas City, MO

Cash out to more than 100% of borrower equity. No seasoning requirement. No debt service requirement. No debt yield. No problem. Pender got it done!

Prescient Capital Management LLC
Chicago & Delafield, WI
Contact: Steve Young  |  262-244-0797  |  syoung@pcm-funding.com
Property Photo   Property: Office
Purpose: Acquisition
Loan Amount: $1,750,000
Location: Raleigh Durham, NC
Date Funded: November 2018

The loan request was secured with a 1st lien on the borrower’s interest in a 36,207 square foot, two story office building located in Chapel Hill, North Carolina. In addition to the primary collateral, the borrower brought $750,000 of equity to the loan closing. The borrower signed a personal guarantee.




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