Commercial Loan News
Sunset View Apartments
STEELHEAD CAPITAL, INC. PROVIDES $10.65 MILLION LOAN FOR SUNSET VIEW APARTMENTS IN RENTON, WA
San Francisco, CA - January 15, 2006
Commercial Mortgage Summary:
San Francisco, CA - January 15, 2006 - Steelhead Capital, Inc. closed a $10.65 million loan in Renton, WA for the Sunset View Apartment property January 15, 2006. The loan has a 10-year fixed rate at 5.59% and is amortized over 30 years. Steelhead Capital arranged the loan through one of its correspondent lending relationships.
Steelhead Capital, Inc. arranged financing for the Sponsor to refinance their existing floating rate debt and replace it with today's low fixed rate financing. The Sponsor purchased the 240-unit garden style asset in order to renovate the property and stabilize operations. Upon completion, the Sponsor came back to Steelhead Capital in order to obtain the most competitive terms in the fixed rate market. Steelhead Capital marketed the financing request to a broad range of lenders, and found very competitive fixed rate financing to meet the Sponsor's objectives.
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)