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Updated almost 14 years ago on . Most recent reply

User Stats

36
Posts
3
Votes
Ross Verbiyan
  • Residential Real Estate Agent
  • Boston, MA
3
Votes |
36
Posts

Investor in Commercial Property FL (Performing Note)

Ross Verbiyan
  • Residential Real Estate Agent
  • Boston, MA
Posted

Hi, I work closely with a large bank and am selling a performing-note. It is for 6 large commercial properties located in Hialeah Gardens, FL.
The total loan amount is $15,899,574.79.
Rate is 5.95% and will continue until 3/5/15
The bank is looking to sell for 74-75% of the loan amount ($11,924,681.09). The loan matures in less than 4 years (3/15/15).
This is a performing note and is secured by a 1st mortgage. In addition, the loan is also collateralized with several escrow accounts. Furthermore, there are 5 guarantors in this transaction with combined liquidity of $4MM
The bank is ready to close within 2 weeks time
Please feel free to contact me with any questions, Thanks

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