The responsive bridge lending stories never get old. A repeat client calls on a Friday morning, needs immediate deal certainty and a closing by the following Wednesday…the day before Thanksgiving. Their financial partner had stepped away from the table, and with escrow scheduled to close on Monday morning, they were indeed behind the eight ball. 18-months earlier, they had acquired a similar property (literally across the street) with SFG acquisition financing, contracted for its highly profitable sale before they ever demo’d and broke ground, and KNEW they had a comparable opportunity with the subject. They also knew Seattle Funding Group was the company to call to save their transaction.
And SFG responded with immediate deal certainty, performing the site inspection early the next morning, and quickly getting into position to close in time to save the profit opportunity. It certainly helped that SFG knew the Colfax Meadows neighborhood of Studio City, the subject street and the sponsor, but these stories play out each month with clients and neighborhoods new to our underwriters. It is in the ability to respond to these requests that SFG has built its reputation and client base, one deal at a time, for 28 years and counting.
Our continuing thanks to Mickey Hedges of Coldwell Banker Previews International. Mickey inspected the property early that Saturday morning, researched and found current comps, and added his local knowledge to the process of valuing the asset…quickly. SFG of CA appreciates the many real estate professionals and third-party service providers throughout the Western regional US, who play an integral role as part of our extended due diligence team. Through their local knowledge, experience, willingness and forthcoming nature, they assist us to close quickly when the situation demands, and allow us to touch every base necessary to protect the capital within the SFG Family of Income Funds.