Commercial Mortgage Loan Closings
WOODHAVEN APARTMENTS
Mortgage Broker
An experienced agent who represents any mortgage company and who accepts a buyer's application and then selects the best mortgage for them.
STEELHEAD CAPITAL PROVIDES $2.8 MILLION LOAN FOR THE WILLOWS OF WOODHAVEN APARTMENTS IN FORT WORTH, TX.
San Francisco, CA - February 6, 2002
Opportunity: The borrower owned this asset free and clear of any debt, and wanted to leverage the asset in order to purchase another property.
Challenges: This is a Class C asset in Ft. Worth, TX. The borrower had tried other financing options before calling Steelhead Capital, and were declined due to inferior asset quality. The other challenge was cashing-out in a very unstable capital market climate.
Solution: Steelhead Capital was able to arrange extremely flexible terms for the borrower – allowing prepayment at a nominal cost after the first year of the loan. The 4th quarter of 2001 proved to be very difficult in getting loans closed as a result of the 9/11 terrorist attack, but we were able to overcome the delays and work the lender and borrower through the process to a successful close.
Steelhead Capital is a premier commercial mortgage broker for commercial real estate loans. Steelhead Capital brings an extensive network of loan sources, structured finance experience with a focus on commercial real estate acquisitions, and a clear commitment to personalized customer service to investors financing properties in any of the 50 states. Steelhead Capital's corporate offices are located in San Francisco, CA.
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