Need $450K at 51% LTV bridge financing for Mixed-use Banquet Halls - Convention center

Deal Summary:  Mixed-use - Banquet Halls - Retail Shops Space & Restaurant space
48000 SF building with 33000 SF rentable space in North Carolina
Party looking to finance, had previously managed the same property for few years for an owner, and later had committed offer to purchase from the original owner when it was appraised at $2.1M just 4 years back.  However, original owner went bankrupt and property went back to bank as REO.   My party is in good terms with the bank, as my party has already invested over $500K in renovations, and hence bank is offering him on discount to take over.  So, my party is in this business and can quickly recover the operations to full potential within a year.  Also, my party has W2 income on upside of $200K to meet interest payments during this recovery.

Going Concern value:   $1.3M
Market value     : $870,000   (appraisal done in 2012) 
Liquidation value: $610,000   (appraisal done in 2012)
Loan Faculty     : $450,000   (LTV  51%)
Loan Term        : One year

Let me know a.s.a.p. whether you know of anyone interested in this financing deal, and willing to act quickly. 

Thanks

Sam


Views: 179

Attachments:

Reply to This

Replies to This Discussion

Sam,

Setser Capital Solutions can assit with your bridge funding request. Our bridge lenders can finance deals quickly. Contact me at john.setser@setsercapital.com to discuss in more detail.

John  

Sam,

Please send me more details. I definitely have a source that would be interested in this. My email is kahall413@gmail.com

Thanks,

Ken

Our investors can respond and close quickly, I need more information on the deal, send over executive summary, sales contract, PFS on borrower.

 

John Broussard

Newbridge Investments

713-777-9996

commercial.privateorhardmoney@gmail.com

We can close all types of CRE loans in all 50 states

Need Money For You Business? We Can Help...

Whether you are a startup or you’ve been in business for years, we can help!

Get Funding Now…

  1. Get Up To $200,000 For Your Business
  2. Fast 24-Hour Approvals, 2-Week Funding
  3. 0% Introductory Interest Rate Specials
  4. Startups Welcome; No Business History Needed
  5. Retirement rollover program available
  6. Free Legal and Small Business Consulting      Included
  7. Bad Credit? Credit Partners Accepted!
  8. Absolutely No Upfront Fees Required!
  9. No Financials Needed -- No Collateral Needed

 For Startups:

UNSECURED BUSINESS FINANCING:

  • Perfect for startups and small businesses
  • Approval in 24-48 hours
  • Results in 2 weeks
  • No financials or income documentation required

Necessary Documents:

  • Recent Credit Report in the last 30 days( Obtained from Annualcreditreport.com, free and does not harm Credit Score at all)

 For Existing Businesses:

 REVENUE-BASED LOANS:

  • Perfect for Restaurants, Service, and Medical Industries
  • Short-term loans, most popular are 6,9,12 months
  • Loan is uncollateralized

Necessary Documents:

  • 1-page application
  • Last 3 months bank statements
  • 3 months credit card processing statements( or if credit cards are not accepted last year’s business tax returns)

In the last 13 years we’ve helped thousands of people just like you. During 2013 we raised over $38 Million for business owners all across the United States. If you need funding, we can help.

Contact us today, for your free analysis and explanation of what options exist for you.

Visit: www.financeneeds.com/7397

Courtney Lawrence:
Phone:  (949) 777-5509 | Fax:   (949) 309-2731

This is George Mallory with Drexel Brothers; www.drexelbrothers.com, nationwide private lenders, we lend on Multifamily (5+ units), mixed-use, office, retail, warehouse, self-storage, auto-service, warehouses, auto repair shops, day care businesses, hotels, motels, SFR, condo, townhomes, 1-4 SFR NOO units, and large SFR portfolio with a non-recourse loan, rates start at 3.5%, term 5-30yrs, based on the prevalent of the project our LTV from 75% to 100% finance. Business plan or a very detail executive summary is needed for underwriting, decisions within 24hrs, No advance fees, funding in 7 days to 45 days.

 

 

 

 

 

 

 

Have a Powerful Day

George R. Mallory,

VP of Finance, Underwriter

Mobile: 917-653-5215

Fax: 917-591-4601

Email: gmallory@drexelbrothers.com

Website: www.drexelbrothers.com

Attachments:

RSS

© 2024   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service