108 unit apartment building
15 unit apartment Building Capital Hill
High net worth perfect credit borrower needed to finalize a closing on $3,000,000 plus C grade apartment building in Tacoma Washington. Property was well managed with high occupancy rate and climbing cash flows. After another year of over 90% stabilized occupancy, borrower intends to refinance through traditional lending sources. In the meantime borrower needed to close by year end to capture some seller concessions. Broker turned to Seattle Funding Group for the certainty of a closing by year end.
To give us more comfort, borrower offered up his well located 15 unit Seattle apartment building, with a high equity position, as addition collateral. Loan closed within the short time requested to allow borrower to capture a large future profit.