Commercial Loan News
STEELHEAD CAPITAL PROVIDES $15.15 MILLION LOAN FOR PARKWAY COMMERCE/SBS TECHNOLOGIES IN POWAY/CARLSBAD, CA.
San Francisco, CA
Commercial Real Estate Loans Summary:
Opportunity: The borrower was able to purchase these Class-A properties for $22,750,000 in markets with very strong fundamentals in place, while deferring capital gains from a previous sale. This purchase represented an "institutional quality” purchase providing sound returns.
Challenges: Competitive bidding environment, time limitations due to 1031 Exchange requirements, and large single-tenant in the SBS building with only 5 years remaining on the lease.
Solution: 30-day close, 7.5% fixed rate financing. Steelhead Capital was able to structure this as one loan, thereby mitigating the potential exposure of SBS Technologies not renewing their lease while minimizing lender TI/LC’s requirements.
Steelhead Capital is a premier provider of creative industrial 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)