Closed First Mortgage $742,000.00 Value Added Retail Center, Chicago, IL
Gelt Financial was pleased to provide an investor group with first mortgage financing on a value-add retail center in Chicago that the buyers were the successful bidder through a national auction company.
As part of the financing package, Gelt also provided a significant amount of financing for repairs, tenant improvements, and leasing commissions to the property.
According to H. Jack Miller the company founder, this is an excellent example of a deal that we can do very fast, from the time we looked at it we had issued a term sheet within an hour and was ready to close in a week or so. The borrower needed to move fast, and we delivered, as well the properties rent roll was not stable enough for a bank to provide the financing.
When your bank says No, we say Yes! Contact us today for your next deal! 561-221-0900
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