Commercial Loan News
STEELHEAD CAPITAL PROVIDES $6.35 MILLION LOAN FOR THE ELLIOTT APARTMENTS IN SEATTLE, WA.
Seattle, WA. - March 27, 2002
Steelhead Capital Provides $6.35 Million for 500 Elliott in Seattle, WA. The borrower needed a take-out of their construction loan for a Class A property located in downtown Seattle which had just achieved stabilization.
Commercial Real Estate Loan Summary:
Challenges: In a softening market with economic upheaval and the addition of new product in the market, Steelhead Capital worked hard to establish sub-market facts and rental rates to ensure that the borrower gained the leverage necessary to close the transaction.
Solution: Steelhead Capital and the borrower chose to work with a local lender who had a better understanding of the local area markets. They accepted the existing appraisal and this allowed us to close the transaction quickly and payoff the existing construction loan without penalty.
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)