Prime retail building located in Kailua, Oahu, Hawaii in the center of town. This 10 unit 2 story center has a mix of local retail businesses and local office tenants including Mexican Restaurant, Beer Craft, Develop, Karata and Yoga studios. The local borrower was looking for a refinance on the property but needed some extra time to establish some new tenant history before heading to more conventional financing.
Seattle Funding Group was able to close the transaction with a quick bridge loan while the new tenants were moving in to the units. All was accomplished without having to sacrifice an appropriate amount of underwriting that included estoppels, environmental review, and formal appraisals. This is only possible when you have the borrower and SFG, both working towards a quick closing.
