Closed: $420,000 Cash Out Refinance for Marlton, New Jersey Cannabis Retail Property
$420,000 Cash Out Refinance for Marlton, New Jersey Cannabis Retail Property
Gelt Financial closed a $420,000 cash-out refinance on a commercial property in Marlton, New Jersey. The 4,004-square-foot building has approved zoning for cannabis retail use and a $1.8 million valuation.
We structured this loan at a conservative 23% loan-to-value, giving the borrower substantial equity while keeping Gelt Financial's position secure. The property is leased for eight years to a multi-location public-company tenant, who is funding the dispensary conversion and improvements out of pocket.
This borrower has an existing relationship with Gelt Financial and a perfect payment history with us. That track record, combined with strong asset fundamentals, made this a smooth close on a 12-month, interest-only term. No appraisal or minimum credit score was required. The borrower's exit strategy is a refinance into a DSCR loan.
Deals like this show why real estate investors keep coming back to a family-owned, asset-based lender. We stay honest about our terms, with no hidden fees and no slowdowns once a deal is ready to close. Do you have a commercial or investment property that needs fast, flexible financing? Apply now at GeltFinancial.com or call us at 561-221-0900 today! Gelt Financial is ready to discuss your commercial or investment real estate financing needs.
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