Liberty SBF Closes $4.7MM Bridge Loan in Columbus, OH
Direct-funded 65% LTV refinance used to consolidate complex mortgage structure on multiple properties under a tight deadline.
Columbus, OH – Liberty SBF, a full-service commercial real estate finance company, recently provided direct funding on a 65% LTV, $4.7MM Bridge Loan in Columbus, OH.
A real estate development company came to Liberty SBF needing to pay off multiple notes to multiple lenders covering six properties under a tight deadline. Liberty SBF stepped in after the borrower had been seeking a refinancing option for some time. Liberty SBF understood the borrower’s needs and coordinated a single closing to simplify the mortgage structure. Since Liberty SBF’s loan comes with no pre-payment penalty, the borrower was able to secure conventional financing from a local bank for the take-out immediately.
The deal was brought to Liberty SBF by Mario Jackson of the Columbus, OH-based Christian Capital Group. Jackson said that his clients were very happy with the solution provided by Liberty SBF. “It was definitely helpful for the clients,” he said. “It’s obvious that the key people at Liberty SBF know what they’re doing.”
The properties included a mixed-use office/industrial building, three apartment complexes, and two retail buildings.
“We understand that this loan was a huge broom to clean up a few pieces that fell out of place,” said Charles Bowles, Liberty SBF’s Senior Vice President of Commercial Lending. “We take time to see the transaction from the borrowers eyes and try and put him into one of our direct programs that best fits his needs.”
Liberty SBF recognized that it had to devise programs to match the diversity of deals it saw in the marketplace. A deal isn’t always ready for permanent financing so the company developed bridge loans that enable entrepreneurs to fix issues while their businesses continued unabated. This differentiates Liberty SBF from most commercial lenders in that it doesn’t have to force a deal into a single program.
About Liberty SBF
Liberty SBF (Liberty) is a full-service commercial real estate finance company that provides loan origination, loan servicing and asset management. Liberty has a special expertise in small-balance commercial lending, lending directly from its balance sheet and originating loans for its investment partners. With offices in Philadelphia, New York, Los Angeles, Boca Raton and New York, Liberty originates loans across the United States. For more information about Liberty SBF, please visit http://www.libertysbf.com.