Commercial Loan News
STEELHEAD CAPITAL PROVIDES $2.8 MILLION LOAN FOR THE WILLOWS OF WOODHAVEN APARTMENTS IN FORT WORTH, TX.
San Francisco, CA - February 6, 2002
Commercial Real Estate Loan Summary:
Opportunity: The borrower owned this asset free and clear of any debt, and wanted to leverage the asset in order to purchase another property.
Challenges: This is a Class C asset in Ft. Worth, TX. The borrower had tried other financing options before calling Steelhead Capital, and were declined due to inferior asset quality. The other challenge was cashing-out in a very unstable capital market climate.
Solution: Steelhead Capital was able to arrange extremely flexible terms for the borrower – allowing prepayment at a nominal cost after the first year of the loan. The 4th quarter of 2001 proved to be very difficult in getting loans closed as a result of the 9/11 terrorist attack, but we were able to overcome the delays and work the lender and borrower through the process to a successful close.
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 Loans.
Contact Information:
Steelhead Capital, Inc
415-397-2980 (phone)
415-397-2981 (fax)