Commercial Loan News
STEELHEAD CAPITAL, INC. PROVIDES $9.2 MILLION LOAN FOR REGENCY TOWER APARTMENTS IN OKLAHOMA CITY, OK
San Francisco, CA - November 15, 2004
Commercial Mortgage Loan Summary:
Steelhead Capital Inc. closed a $9.2 million loan in Oklahoma City, OK for Regency Tower Apartments on November 15, 2004. The loan has a 10-year term, fixed at 5.45% and amortized over 30 years. The loan-to-value ratio was 80% with 1.20x debt service coverage. Steelhead Capital arranged the loan through one of its correspondent lending relationships.
Regency tower is a 24-story high-rise Class B+ apartment community consisting 274 units, located in the central business district of Oklahoma City. Built in 1964 and renovated in 1995, the Sponsor acquired this asset with the intent to conduct additional rehab by improving the common areas and upgrading most of the unit interiors over time.
Steelhead Capital is a premier provider of creative commercial loan financing 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 www.steelheadcapital.com.
Contact Information:
Steelhead Capital, Inc
415-397-2980 (phone)
415-397-2981 (fax)