Commercial Mortgage Loan Closings
NDI INVESTMENTS
Improvement Cost
Cost of publicly owned additions such as curbs, sidewalks, street lighting system and sewers. These improvements are constructed so as to permit the development of privately owned land so that it can be used as opposed to improvements on land which are usually privately owned. Can also mean total cost of all upgrades and amenites added to a property to make it more marketable. Used for real estate investments.
STEELHEAD CAPITAL, INC. PROVIDES TOTAL $4.5 MILLION LOAN FOR NDI INVESTMENTS I, LLC dba JUST DESSERTS IN OAKLAND, CA
San Francisco, CA - October 15, 2003
Steelhead Capital Inc. closed a total loan amount of $4.5 million in Oakland, CA for NDI Investments I, LLC dba Just Desserts. The loan is a 5-year, 7.00% fixed rate mortgage, amortized over 25 years with a loan-to-value ratio of 82%. Steelhead Capital arranged the loan through one of its correspondent lending relationships.
Steelhead Capital, Inc. negotiated the sale and financing of this special-use bakery facility to an owner-user. The asset had nearly $12.5 million in improvement costs and land. Steelhead Capital successfully negotiated the sale at $5.5 million through the foreclosure process for the client. Additionally, Steelhead Capital was instrumental in negotiating a first mortgage of $3.2 million through the existing lender as well as providing a hard money second mortgage of $1.3 million in order to provide a 82% LTV for the borrower.
Steelhead Capital is a premier provider of creative financing solutions for commercial real estate investors. Steelhead Capital brings an extensive network of lending sources, structured finance experience with a focus on 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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