Closed: $526,500 Purchase Loan for Six Commercial Condominium Units in Springfield, Tennessee
$526,500 Purchase Loan for Six Commercial Condominium Units in Springfield, Tennessee
Gelt Financial closed a $526,500 purchase loan for six commercial condominium units in Springfield, Tennessee. The units span 7,700 rentable square feet, with two occupied by the borrower's established flooring company.
We structured this loan at a conservative 60.81% loan-to-value against an $865,775 Gelt estimated value, leaving the borrower with a strong equity cushion. The property sits in a growing industrial corridor, and the borrower has a clear value-add plan: converting below-market, month-to-month tenants into long-term leases over time.
This was a 12-month, interest-only term built around property-qualification underwriting. No appraisal or minimum credit score was required. We focused on the asset itself and the borrower's plan to build income and equity across the portfolio.
Deals like this show what a family-owned, asset-based lender can do when a borrower needs speed and flexibility to move on an opportunity. We stay honest about our terms, with no hidden fees and no unnecessary delays slowing down a closing. Does your commercial property need 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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