SFG provided 65% financing for the acquisition of this older, under-rented 8-unit property. The sponsor’s plan includes repositioning and stabilizing the asset with her own capital prior to determining whether to flip or hold it. Highly experienced in property ownership and management, the sponsor understood the proper use of private capital to capture the best purchase opportunities at the right price.
Seattle Funding Group adds great value as the go-to source for financing multifamily repositioning transactions. With the flexibility derived of being a private, fund-based and well-capitalized lender, SFG has both the responsiveness and creativity to structure a loan solution tailor-made for your clients. And SFG is active throughout the major markets of The Western US.
- Immediate Deal Certainty and local market knowledge
- Financing Preapproval Letters to satisfy sellers and their brokers
- Experienced underwriters to focus on the real issues necessary to get your deal done…on time
- No tax returns, W-2’s, or global cash-flow analysis
- Responsive closings to secure the best purchase price – 10-day closings are no problem
- Ability to finance the repositioning costs
- Flexibility to design lower pay rates during the cash-flow ebbs often associated with major repositioning projects
- No prepayment penalty or yield maintenance – reposition it, stabilize it and flip or refinance it without added financing costs
SFG congratulates Rita Lancaster-Hannah on this terrific North Park (San Diego) multifamily closing, and we look forward to more opportunities to work with Rita and the multifamily professionals at ACRE Investment Real Estate Services.