Commercial Mortgage Loan Closings
PARKWAY COMMERCE
Commercial Real Estate Loan
A commercial loan that is made for the purpose of obtaining commercial real estate in the form of a tract of land, an office building, a hotel, a shopping center, or an apartment complex.
STEELHEAD CAPITAL PROVIDES $15.15 MILLION LOAN FOR PARKWAY COMMERCE/SBS TECHNOLOGIES IN POWAY/CARLSBAD, CA.
San Francisco, CA
Opportunity: The borrower was able to purchase these Class-A properties for $22,750,000 in markets with very strong fundamentals in place, while deferring capital gains from a previous sale. This purchase represented an “institutional quality” purchase providing sound returns.
Challenges: Competitive bidding environment, time limitations due to 1031 Exchange requirements, and large single-tenant in the SBS building with only 5 years remaining on the lease.
Solution: 30-day close, 7.5% fixed rate financing. Steelhead Capital was able to structure this as one loan, thereby mitigating the potential exposure of SBS Technologies not renewing their lease while minimizing lender TI/LC’s requirements.
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 loans, 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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