Funded Deal - 2nd position on an Office Building

[Jackie Kwapsiewicz]

Investment Info:

Large multi-family (5+ units) private money loan investment.

Cash invested: $600,000

Funded: $600,000
Terms: 6-monthly interest only bridge
loan with option to extend
Collateral: 2nd position on a Commercial Office
Building; behind $1.15m. Subject is
partially owner-occupied and partially
un-occupied
Industry: Printing / Publishing
Revenue: $600k - $1m
Credit: 2 Borrowers / 4 Guarantors - 650+

What made you interested in investing in this type of deal?

Borrower had no luck in acquiring a Hard Money Loan due to cash flow issues, Owner-occupied property and Partially un-occupied property.

How did you find this deal and how did you negotiate it?

Referral Source - paid 5 points

How did you finance this deal?

Interest Only Bridge Loan

How did you add value to the deal?

Our loan allowed for the borrowers to keep their building and lease the additional space (instead of selling), purchase new printing equipment for a new project, pay invoices for upcoming projects, as well as, clear their title of taxes, liens and judgement.

Lessons learned? Challenges?

Loan took place during the government shutdown.