Liberty SBF Unveils New Bridge Loan For Commercial Real Estate FinancingNovember 8, 2014
Liberty SBF’s “Flex Bridge Loan” financing gives borrowers time to lease up properties after purchase and close quickly on tight deadlines.
Liberty SBF, a full-service real estate finance company, is proud to announce its “Flex Bridge Loan,” a commercial real estate financing product to help borrowers close on properties that might not be leased up or are facing a tight closing deadline.
The Flex Bridge Loan can be used for many transactions because it has some of the most flexible terms available for borrowers to take advantage of today’s dynamic commercial real estate market. Rates start as low 5.99% on balances beginning at $3MM with no prepayment penalties. The program is eligible for office, retail, industrial, and multi-family properties. Situations that a Liberty SBF Flex Bridge Loan can be used for include refinances, acquisitions, lease-ups, repositioning/transitional properties, tight closing deadlines, refinancing of maturing loans and partner buyouts.
“Our customers are always looking for the most flexible financing options to fulfill their commercial real estate needs,” said Alex Cohen. Liberty SBF’s CEO. “Liberty SBF wants to be able to provide solutions for every customer to get them to close.”
Liberty SBF Deal Closed With a $4.8MM Bridge Loan
Recently, Liberty SBF closed on a $4,800,000 bridge loan secured by two retail centers located outside of Chicago, IL. The 12-month loan enabled the borrower to recapitalize a ballooning CMBS loan. A total of 47,600 square feet of retail space serves as collateral for the loan.
The first center, located in Roselle IL, is fully stabilized and encompasses both national and regional tenants. The second retail center is located in South Elgin, IL and is currently 70% occupied.
In an example of how Liberty SBF’s flexible financing solutions can help get commercial real estate deals to closing, the borrower took advantage of the time that the bridge loan gives to fill in vacancies in the shopping center and generate cash flow for the business. The borrower will eventually take out the bridge loan with a favorable end loan.
Mr. Cohen said that this property fits in with his company’s strategy to help borrowers secure financing under terms they want and need.
“We believed in this property and after careful study we knew that the owner could fill the vacant storefronts,” Cohen said. “Our bridge loan was a perfect fit to finance this deal.”
About Liberty SBF
Liberty SBF is a full-service commercial real estate finance company that provides loan origination, loan servicing and lender services. The company has a special expertise in small-balance commercial lending, lending directly from its balance sheet and originating loans for its investment partners. For more information about Liberty SBF, please visit www.libertysbf.com.
You can follow Liberty SBF on Twitter at @LibertySBF and on LinkedIn here: http://bit.ly/LibertyLinkedIn