Creating a Holding Company to allow 1 blank Mortgage or many LLCs

[Chris Heeren]

Has anyone looked into or have actually created a Holding Company which would hold multiple LLC's underneath it, then go to a bank and do one blanket mortgage with the holding company for all properties owned in the LLC's underneath it? I ask as I currently have multiple LLCs and have a bank willing to give great terms on a mortgage over $750,000 - However, I don't have $750K in any one LLC and obviously can't do multiple separate mortgages to multiple separate LLC's and still qualify for the terms. My thinking was to create a Holding Company and then have the bank do a single loan to the holding company that would encompass all the properties underneath it. The bank already said they would be willing to do this. My concern is does that break down and defeat my asset protection structure in the first place, as I may be acting as a single entity in terms of the bank loan? This may also apply to Insurance Purposes as well, just curious to see what other investors have for thoughts on using a Holding Company for this approach.