A Commercial Refinance by the Numbers…
15 Responsive bridge loans SFG has provided for this extraordinarily successful businesswoman and her growing family of companies
5 Number of business days in which SFG had to close this bridge refinance…from the very first email request
5 Number of properties involved within the collateral mix
3 Fee simple properties including an iconic local restaurant, a pay parking lot and a commercial condominium
2 Leasehold properties including a second restaurant and pay parking lot
1 Day early to close.
Seattle Funding Group values long-term lending relationships, for they pay dividends to both Lender and Borrower alike. SFG benefits with known quantities and solid portfolio performance, and our many repeat clients know they can call on us when they require deal certainty and extraordinary responsiveness in the face of complexities.
In the case of this bridge loan, it certainly helped that Seattle Funding Group knew the client well (15 loans and counting…) and was extremely familiar with the Mission Beach community of San Diego. Another positive factor derived from our 28 years in business. There were a few complexities (leased land, five properties, two title holders, two operating restaurants…), but the Borrower’s highly professional team had most of the necessary due diligence information to SFG within hours of the first email, and all parties stayed on task until the deal was done.
A special thanks to Tom Schwiebert of Chicago Title Company. Together with Della DuCharme and the DuCharme Escrow Unit, SFG has closed many responsive bridge loans due to Tom’s management of the title and escrow elements. For years, The team at Chicago have been invaluable resources, whether for bridge loans or broken priority challenges in construction situations.
Thanks also to the countless real estate professionals throughout the West who are essential factors to properly evaluating market conditions, local values and trends. Trevor Pike of Chris Love’s Team at Coldwell Banker has continued to assist with values in a relationship that began almost 40 years ago with SFG’s CA Underwriter, Chuck Salas. Trevor and Chris know coastal values in core San Diego beach communities like Mission Beach, and their insight and perspectives are paramount when responsively assessing conditions and lending opportunities. People like Trevor and Chris are huge assets to SFG when analyzing loan requests spread across the hundreds of different neighborhoods and communities to which we provide financing.
Another 4-day deal closed by SFG’s experienced staff drawing upon the combined resources of a large, extended team of professionals…
For the next opportunity, we’re ready when you are!