In C Store Commercial Mortgage Closed, Atlanta Georgia it discusses about a commercial mortgage deal for a convenience store (c-store) located near Atlanta, Georgia. It features the c-store owned by a hard-working family that sold various items, including groceries and gas. Gelt Financial, was able to closed the deal quickly without conducting an appraisal and primarily based their decision on the property’s value.
Another c-store closed in a suburb of Atlanta, Georgia, right outside the Atlanta Border. Again, a typical c-store sold, you know, all kinds of stuff in there. A little grocery store, a little like mini market sold gas, owned by a family. Sold the Earth, hard-working, a family operation. We closed the deal again without an appraisal, a really asset-based loan. We really didn’t look too much into the borrower’s background. There certainly didn’t qualify them on the credit or income or things of that nature.
We did it based on the fact that they were there, based on the location. It’s a superior location, we feel, even if it wasn’t a c-store. Something else could be there that would be worth, maybe more than the c-store, who knows? We love the real estate. We approved the deal quick; we closed the deal quick, and that’s it. We do tons and tons of c-stores at Gelt Financial. You know, we find that a lot of banks, a lot of traditional lenders aren’t doing them, and we’re doing them. We’re fine with the real estate, self-understood if it makes sense. So, think of us when it comes to c-stores and other real estate, where non- bank lenders.
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