SFG ‘s recent closing involved an estate settlement which required one family member to buy out the other and of course, time was of the essence. The first property SFG inspected included 20 townhome apartment units appraised at $2.8M. Each unit averages 930 sq. ft. with 2 bedrooms and 1.5 baths and two car carports per unit. The Thriftway store is a primary grocery in the town of Toledo, Oregon. The super market is valued at $1.6M and was used as additional collateral. With SFG taking first position on both properties, it was an easy “approved” by SFG underwriters.
The borrower plans on adding better management to the townhomes and refinancing to retire our debt within the next 18 months.