Commercial Loan News
STEELHEAD CAPITAL PROVIDES $5 MILLION LOAN FOR 1326 NORTH MARKET, SACRAMENTO, CA.
San Francisco, CA - May 15, 2003
Commercial Real Estate Loans Summary:
Steelhead Capital closed a $5,000,000 fixed rate acquisition for 1326 North Market located in Sacramento, CA through one of its correspondent relationships. The loan is a 10-year, 5.57 % fixed rate mortgage, amortized over 30-years. The loan to value ratio was 67% with a debt service coverage of 1.5x.
The well-maintained class B property built in 1985 and renovated in 2000 is comprised of 86,179 net rentable square feet. The acquisition loan was closed providing a letter of credit. Occupancy at close was 100%.
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)