Marcy and Jack talked about a bridge Mortgage loan that just closed on a single-tenant Humana Healthcare leased property while doing some social distancing.
“Jack: Hello! this is Jack, (*Hi! *) that’s Marcy. Actually, Marcy should go first we’re doing our social distancing obligatory is that the right word? obligatory? what’s the right word?
Marcy: Our obligations to society.
Jack: Yes! to make a video we haven’t made one I think all week it’s been a crazy week but we want to let you know we closed a loan. Really, Marcy did all the work on a it was a single tenant Humana health care in Ohio, and we got it, and we approved it within I think ten minutes and we were already closing what like 4 or 5 days, Marcy? something like that?
Marcy: Yes, and we had a little bit of a delay in the closing, and we got a phone call. I think it was Tuesday morning, and the guy was like; “okay, ready to close”. And, uh, we actually contacted every party involved in the transaction, the title agent; everyone, we gotta close that day. The guy happened to be in Florida because we’re in Florida, so he actually came to our office, and I closed the loan with him. Um, and we took care of it; everything was done. The title agent happened to be in California; we’re here, but amazingly—
Jack: and the property is in Ohio.
Marcy: and the property is in Ohio, so it’s like even with all those different— it didn’t matter; we still were able to close the loan, and it funded, and everyone’s on their way, and it was a touchdown.
Jack: California resident, Ohio property. He wasn’t so strong but very strong new tenant actually, the story is the tenant is not even in there yet, but they did sign the lease. It was a Humana healthcare building. It was previously, I think, a Dollar General, a Dollar Tree, one of those dollar stores.
Marcy: Yeah, very strong tenant. They’re gonna be in the property, sign a ten-year lease, so…
Jack: so, we got it closed. Remember, call us at 561-221-0900, check us out at geltfinancial.com, like the YouTube, like our video channel, call Marcy.
Marcy: Yes, and please, everyone, stay well and healthy and um…
Jack: and stay away from me, stay safe, everyone. Stay safe. I’m joking around, but I’m serious. Stay safe, and remember when your bank says no, we say yes, and we want to do deals. We’re here; we’re open. If we’re not here, everyone in the office is set up to work remotely. Take care, have a great day. Oh, I want to give a shout-out to Keith Thomas, who’s the broker on this. He did a great job. Take care, everyone. Bye.”
Category: Deals Done
