Acquisition financing for a 13 unit multifamily property well located in the Beacon Hill neighborhood of Seattle. Our borrower has extensive experience utilizing Seattle Funding Group’s short-term, bridge financing… especially in competitive purchase scenarios and this has given him a distinct advantage over other investors. Knowing that SFG can close quickly given the right combination of down payment money and borrower strength, this borrower is able to get a price break in exchange for a quick close, even with higher offers on the table. A text book case on the effective use of private money. This transaction is also a value add play, where once the units are rehabbed and re-leased at market rates, a more traditional refinance with the accompanying low interest rates will be quite easy.
