Commercial Loan News
Forest Hills Apartments
STEELHEAD CAPITAL, INC. PROVIDES $13.160MM DOLLAR LOAN FOR FOREST HILLS IN EUGENE, OR.
Seattle, WA - January 15, 2004
Commercial Real Estate Loan Summary:
Steelhead Capital, Inc. closed a $13,160,000 refinance of Forest Hills located in Eugene, OR through one of its correspondent relationships on January 15, 2004. The loan was a 7-year fixed with interest only for the first three years, at a 5.05% rate amortized over 30-years. The loan to value ratio was 80% with a debt service coverage of 1.32x.
The 248-unit class B property was built in 1997. The apartment building property provides a variety of innovative layouts and amenities for the seeking renter. The transaction closed at 91% occupancy.
Steelhead Capital is a premier provider of creative commercial loan 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 offices are located in San Francisco, CA. Company information can be found at Steelhead Capital Commercial Investment Loans.
Contact Information:
Steelhead Capital, Inc
415-397-2980 (phone)
415-397-2981 (fax)