Another Maturity Wall Loan Refinanced by Liberty SBF! $4.7MM Quick-close bridge loan funded in 3 Weeks!September 7, 2016
Liberty SBF recently closed a $4.7MM bridge loan in under three weeks to refinance a 71-unit multifamily property for an experienced local sponsor with over 30-years experience developing and managing properties in Philadelphia, PA.
The sponsor used cash-out proceeds to payoff other existing debt, build reserves and set aside working capital toward another ongoing development project. The bridge loan represents 46% LTV of Liberty SBF’s underwritten value; 37% of appraised value.
The property consists of two buildings in the popular University City neighborhood near the University of Pennsylvania and just two miles from Philadelphia’s central business district. The multifamily buildings are fully occupied and given the in-place debt service coverage and debt yield, Liberty SBF is confident that the sponsor will have no difficulty pursuing permanent financing options.
Working with brokers, bankers, and other intermediaries, Liberty SBF is providing liquidity for the wall of maturing commercial real estate loans through its bridge lending platform for commercial property investors and its 90% LTV loan for owner-occupied commercial properties.
Close FAST with a Liberty SBF’s Bridge Loan
• 1- 2 year terms
• Loan balances starting at $1MM
• No pre-payment penalty, minimum interest, or exit fees
• Non-recourse considered
• Earn a referral premium on closed deals!
• Direct Funded – Liberty SBF’s bridge loans are directly funded from our own balance sheet
• Uses – Quick Close, DPO Financing, Debt Refinancing & Restructuring, and Partner Buyouts
• Unique Property Types – We specialize in Hotel, Office, Retail, Industrial, Flex, Multi-family and Mobile Home Parks, and owner-occupied commercial real estate for small business owners.