Commercial Loan News
STEELHEAD CAPITAL, INC. PROVIDES TOTAL $4.5 MILLION LOAN FOR NDI INVESTMENTS I, LLC dba JUST DESSERTS IN OAKLAND, CA
San Francisco, CA - October 15, 2003
Commercial Real Estate Loans Summary:
Steelhead Capital Inc. closed a total loan amount of $4.5 million in Oakland, CA for NDI Investments I, LLC dba Just Desserts. The loan is a 5-year, 7.00% fixed rate mortgage, amortized over 25 years with a loan-to-value ratio of 82%. Steelhead Capital arranged the loan through one of its correspondent lending relationships.
Steelhead Capital, Inc. negotiated the sale and financing of this special-use bakery facility to an owner-user. The asset had nearly $12.5 million in improvements and land. Steelhead Capital successfully negotiated the sale at $5.5 million through the foreclosure process for the client. Additionally, Steelhead Capital was instrumental in negotiating a first mortgage of $3.2 million through the existing lender as well as providing a hard money second mortgage of $1.3 million in order to provide a 82% LTV for the borrower.
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)