Repeat Borrower and experienced developer in South Western States approached SFG once again for acquisition financing after the bank failed to step up in a timely manner. With less than two weeks until closing, SFG closing and underwriting team immediately tackled the project. Fortunately, this experienced borrower had all third-party reports in hand to help facilitate the short-fuse closing. Additionally, this site is large enough to sub-divide and Borrower had two potential users in tow (including a build-to-suit Starbucks for the hard corner). SFG will provide construction financing for the Starbucks build and also provided a mezzanine piece to satisfy Borrower’s leverage parameters.
This transaction illustrates how Borrower and Lender working together can solve complicated deal points in a short amount of time. Have a deal with many different pieces? Call an SFG Underwriter today and together we can close your deal!