Fantastic Borrower | Fabulous Properties | Fast Closing
The repeat-investor pledged over $18M in property value, and SFG was able to lend over $9M in less than 2 weeks.
Accomplished boutique apartment rehabber in the Seattle marketplace turned to SFG for his latest acquisition. Using the substantial equity in several of his holdings, SFG was able to cross collateralize five small to mid-sized apartment buildings to facilitate the purchase of the target property. The quick closing was necessary due to back up bidders at higher prices on the target asset. This transaction really underscores the need for certainty in today’s dynamic “seize the moment” marketplace.
Hundreds of real estate entrepreneurs, across the west coast, rely on Seattle Funding Group to facilitate the kind of speed and deal certainty that allows them to maximize opportunity and profits! This transaction is a real life story of Capital at the Speed of Business! The sponsor is a 20+ time repeat SFG client, and we are proud to be a part of his incredible success.
At the corner of Speed and Profit, you will likely find Seattle Funding Group
21 units – Kirkland (Lake and City Views)
The property just acquired. 1960’s vintage building, on the gold coast of Kirkland Washington (the location genesis to Costco) and in need of new life. This property was begging for a modern face lift and value enhancement. This is exactly what our borrower has planned. The subject consists mostly of 1 bed 1 bath units all with dramatic Lake Washington views. Just 2 blocks to DT Kirkland’s restaurant and nightlife. The market suggests a few million dollars in value will quickly be added upon a simple modernized facelift. The operation is already under way, just a few days in.
13 units – Beacon Hill (Vibrant Neighborhood of Seattle)
This property was acquired in 2015 and underwent a complete interior renovation as well as exterior improvements. Multiple units have Westerly views towards Elliot Bay and DT Seattle. 100% turnover in tenancy to market rate. Typical strategy our client has repeated many times over.
15 units – Bellevue (Walking Distance to CBD)
This property was acquired in 2012 and also underwent a complete interior and exterior renovation. New kitchens, floor coverings and baths highlight the improvements. This is an excellent location as it is just 3 blocks to DT Bellevue’s CBD. Again, a classic example of our borrower’s value add business model.