For some time now, and for a variety of reasons, multi-family properties have been in high demand and routinely trading at historic prices. And whether the properties are large or small, those in core submarkets and primary beach areas are hard to find and often hotly contested by multiple buyers. Seattle Funding Group understands the special, often time-sensitive demands of financing this asset class. We quickly provide deal certainty, with the flexibility to structure holdback or construction funds into the transaction for repositioning of these hard to capture assets. Whether it’s a reposition to hold or sell, SFG remains the solid and consistent go-to source for capital at the speed of business, as in the case of this small, 4-unit property recently acquired by a repeat client.
Located south of LAX and north of Manhattan Beach, El Segundo enjoys close-in proximity to employment, services, freeways and the beach. This property was acquired with current rents at well below market rates, owing mainly to the fact that it had not been remodeled or cosmetically updated for many years. The sponsor’s plan is to reposition the asset, to lease the units at present market and to profit from the low CAP on the greatly enhanced NOI. SFG of CA provided 65% of the acquisition price, together with a holdback for the repositioning…just what the client requested and the market supported.
Multi-family financing for acquisition and repositioning – just another of the many bridge lending products offered by Seattle Funding Group throughout the major markets of the Western Regional US.