Mezzanine loan Closed 3 NNN properties in 3 states, 3 different tenants

Gelt closed another Mezzanine loan on 3 properties in 3 states with 3 tenants. this was a Collateral based loan.

“Jack: I personally, I’m super excited. We just closed a mezzanine loan. I’m going to talk to you about what a mezzanine loan is in a minute on three properties, three states, three tenants for five hundred and fifty thousand. Marcy, do you remember where these were?
Marcy: Sure, one was in El Paso, one was in Alabama, and one was in Cincinnati, and they were all restaurants.
Jack: Remember the names of the restaurants?
Marcy: Captain D’s, Arvy’s, Bush’s.
Jack: I am not going to be really pushing it if I say which one where was the Arvy’s? No, I’m joking with you.
Marcy: The Arvy’s was in Cincinnati.
Jack: Oh, you’re pretty good.
Marcy: And the Captain D was in Alabama, and Bush’s was in El Paso, Texas.
Jack: And the borrower lived in California. So, this is a case, a borrower owned three credit tenant properties. He had first mortgages on—
Marcy: They were all triple net.
Jack: All triple net. He needed cash. Our loan amount was 550,000. I think we secured all the properties through a mezzanine second mortgage. We approved the deal right away. Within a couple of hours, we got the deal closed quick thanks to Marcy and Noah. Again, very few people are doing these deals. It sounds confusing to most people—three deals, three-state credit tenants. It involved all kinds of stuff, but this is what we do at Gelt Financial. We love these deals. We ate it up. Again, 550,000. Most people aren’t doing them. Oh, by the way, it was totally collateral based. Totally collateral-based. All about the collateral. No appraisal, no third-party reports other than a title report, and that’s it. We’re doing these deals all the time. Check us out at Gelt Financial. So, like our channel, like the video, whatever it is—YouTube, TikTok, Instagram. Leave comments, leave notes, criticism. Ask us questions. We’ll answer this. Check us out at
Video Title: Mezzanine loan Closed 3 NNN properties in 3 states, 3 different tenants.
Speaker: Jack Miller and Marcy Berger
Transcript:
geltfinancial.com, 561-221-0900, extension 103. Remember when your bank says no, we say yes, and have a fantastic day.”