Commercial Loan News
STEELHEAD CAPITAL, INC. PROVIDES $6.8M FINANCING FOR PRINCESS 2 OFFICE BUILDING IN SCOTTSDALE, AZ
Seattle, WA - September 23, 2004
Commercial Loan Summary:
Steelhead Capital, Inc. closed a $6,800,000 for Princess 2 Office Building in Scottsdale, Arizona through one of its correspondent relationships on September 23, 2004. The loan was fixed for 10 years with a 30- year amortization at 6.15%.
Even though the property was only 62% occupied at the time of close, SHC was able to facilitate the permanent loan through the use of a letter of credit, which allowed the client to lock in a very low rate and eliminate any interest rate risk during stabilization. Marshall was able to negotiate an interest-only component for the client while the property is being leased-up. The 47,135 sq. ft. class A property was built in 2002.
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)