Commercial Mortgage Loan Closings
FIFER COURT
Commercial Loan
A commercial mortgage or property loan obtained for the purpose of buying or developing commercial land or commercial real estate investment properties. Used to aquire or build office buildings, shopping centers, industrial, self-storage, hotels, and apartment buildings. May be used for short or long term goals to finance a company's funding needs primarily for working capital. May be secured by the business or by real estate as collateral.
STEELHEAD CAPITAL PROVIDES $1 MILLION LOAN FOR FIFER COURT IN CORTE MADERA, CA.
San Francisco, CA - June 6, 2003
Steelhead Capital closed a $1 million commercial loan in Corte Madera, California for Fifer Court. The loan is a 5-year, 5.70% fixed rate mortgage, amortized over 15 years. The loan-to-value ratio was 70% with 1.30x debt service coverage. Steelhead Capital arranged the loan through one of its correspondent lending relationships.
Fifer Court is a 14,000sf office building located in Corte Madera, CA - immediately off the 101 freeway. The market area is located just outside of San Francisco in Marin County. The property is extremely well maintained.
Steelhead Capital is a premier provider of creative financing solutions 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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