Commercial Loan News
STEELHEAD CAPITAL, INC. PROVIDES $4 MILLION LOAN FOR THE HYDE PARK APARTMENTS LOCATED IN DALLAS, TX
San Francisco, CA - November 30, 2004
Commercial Mortgage Loan Summary:
Steelhead Capital Inc. closed a $4 million loan in Dallas, TX for owners of Hyde Park Apartments on November 30, 2004. The loan has a 3-year term, with a fixed rate of 4.95 amortized over 10 years. The loan-to-value ratio was 75% with 1.20x debt service coverage. Steelhead Capital arranged the loan through one of its correspondent lending relationships.
The 1982 garden style apartment complex consists of 268 condominium units. The borrower operates these condominium units as though they were apartments.
Steelhead Capital is a premier provider of creative apartment building 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)