Commercial Loan News
STEELHEAD CAPITAL PROVIDES $1.52 MILLION LOAN FOR SPANISH MAIN APARTMENTS IN SAN ANTONIO, TX.
San Francisco, CA - May 30, 2003
Commercial Real Estate Loans Summary:
Steelhead Capital closed a $1.52 million loan in San Antonio, Texas for Spanish Main Apartments. The loan is a 10-year, 5.35% fixed rate mortgage, amortized over 25 years. The loan-to-value ratio was 80% with 1.25x debt service coverage. Steelhead Capital arranged the loan through one of its correspondent lending relationships. Peter Slaugh, CEO of Steelhead Capital, is the originator of the loan.
Spanish Main Apartments is a 62,178 square foot, Class C facility built in 1969. The 89-unit apartment complex consists of brick and wood with amenities of a pool, laundry room, covered parking spaces and landscape with automatic sprinklers.
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)