Closed $274,000 First Mortgage Purchase in Suffolk, Virginia
Virginia First Mortgage Purchase: Gelt Financial Announces Funding of $273,000.00 office Building in Virginia
Gelt Financial, a leading commercial real estate direct lender, today announced the closing of a $273,000.00 first mortgage on an office building in Suffolk, Virginia. This was brought to Gelt by a mortgage broker who needed a two week closing, which Gelt was able to do. Gelt provided a purchase money mortgage on this office building, with a term of two years.
“Gelt Financial is strategically deploying capital for transactions in the $100K-$5MM range, a market that is increasingly being overlooked during the pandemic,” said Jack Miller, of Gelt Financial. “this was purchased by the owner of a small business to use for their office space. We believe in this business and will continue to be at the forefront of lending in the space.”
About Gelt Financial
Gelt Financial is a non-bank commercial real estate lender, which has closed more than 10,000 loans totaling over $1 billion, since its founding in 1989. Gelt focuses on providing debt to non-bank borrowers on all types of commercial real estate, including but not limited to multifamily, office, retail, warehouse, industrial, self-storage, and mixed-use.
To learn more about Gelt Financial’s lending capabilities and the advantages it offers to commercial real estate owners and investors across the U.S., please contact us at 561-221-0900.
For more info on how Gelt can fight for you as a client to get your deal closed in the best way possible, take a look at what President Jack Miller on Gelt’s YouTube channel and for more info on our completed deals, check our Deals Done.
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