Closed: $1.5MM loan for a Miami, FL Condominium Association
JUST CLOSED! Gelt Financial is excited to announce the closing of a $1,500,000 loan for a Miami, FL Condominium Association with over 160 units. Built in the 1970s, the property needed funds for crucial maintenance like roof replacements, asphalt, and more. The association, operating at breakeven, lacked reserves for these expenditures. Our loan, secured by dues, receivables, and assessments, will help bring the property up to standard.
We are flexible with terms, rates, and structure and can move very quickly. When your bank says NO, we say YES!
About Gelt Financial
Gelt Financial is a non-bank commercial real estate lender. We closed more than 10,000 loans totaling over $1 billion since 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.
For more info on how Gelt can help you with an investment property or on any of our other various products and services, look at what President Jack Miller does on Gelt’s YouTube channel, and for more info on our completed deals, check our Deals Done.
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