Recently Funded - $200K Commercial Real Estate Financing for a 1-4 Family Fix and Flip Acquisition
An experienced commercial real estate investor expands into CT
An experienced commercial real estate investor from Massachusetts wanted to expand her business into CT, having identified several interesting properties, but her lender wasn’t licensed to do business in CT.
The investor found Speritas Capital online and liked what she saw. With a property already identified, speed was essential. Speritas identified a a lender that only required relatively light documentation, making the closing process simpler than with traditional lenders, and at a competitive rate.
Loan challenges: Identifying the right lender for this property, working with a borrower who was overseas during underwriting, and helping the borrower understand the new lender’s requirements.
Speritas Capital helped the borrower organize her company documentation to meet lender’s requirements, providing templates that were easy to complete for articles of association and an operating agreement for the borrowing entity.
Throughout the process, Speritas Capital advocated for our client, easing the process and expediting the loan underwriting and closing.
ABOUT THE LOAN
- Loan Type: Commercial Real Estate – 1-4 Family Acquisition – Fix and Flip
- Lender: Hard money lender focused on experience & property value
- Loan Amount: $200K
- Terms: 1 year, interest only, 90% loan to acquisition cost; draws to cover 100% of renovation costs
COMMERCIAL REAL ESTATE
FIXED, INTEREST ONLY
CLOSED IN: 30 DAYS
CONCLUSION – POST FINANCE UPDATE
The borrower was able to acquire the target property with a quick closing loan at a competitive rate. Construction on the CT project is currently underway.
This commercial real estate investor is ready for her next project and Speritas Capital is here to help her close quickly.
The Speritas Capital team is always happy to hear your story, learn more about your financing needs and answer your questions. And we never take an up front fee. Contact Speritas Capital Partners today!
Jeff Bardos, CEO
Cathy Blood, Partner and Director of Marketing
The Speritas team brings our 30+ years of banking experience and our transparent, strategic approach to every client and every deal, both large and small.