Owner-user client was seeking significant cash-out to pay off higher interest business debt. Andy Crawford, CCIM identified one of CommCap’s correspondent life company lenders and assisted in restructuring the lease to maximize loan proceeds. While cash-out refinance requests often bring about increased lender scrutiny, he parlayed the long-standing lender relationship to obtain nearly $500,000 more for the client than initially requested, fixed for 10 years with a full 25 year term.
Loan Amount: $8,243,000
Property Type: Industrial
Property: Eastridge Industrial
Lender Type: Life Insurance
Term: 10 Year
Amortization: 25 Year
Interest Rate: 3.50%
Refinance
Significant Cash-out
Contact today for current rates!
Andy Crawford
702.792.7552
As your exclusive advisors, CommCap utilizes proprietary systems, market expertise, and years of experience to secure aggressive financing options that best fit your property. Exclusive correspondent and servicing relationships with Life Insurance Company, CMBS, and Agency lenders ensure a broad and in-depth representation of current market conditions. Our team of advisors craft a loan structured to enhance revenue and allow you to focus on increasing cash flow.
We do not list, sell, manage, or lease property. We only arrange financing and are the best at what we do.