Recently Closed Owner Occupied CRE Deals With Liberty SBF
Liberty SBF is proud to announce three recent “owner occupied” commercial real estate loan closings. The loans will provide acquisition financing and working capital proceeds that will enable the sponsors to expand their existing businesses.
“These deals represent the breadth of lending products Liberty SBF has to offer to help small businesses expand, put more people to work and contribute to their local economies,” said Alex Cohen, CEO of Liberty SBF. “We have lending products to structure the right deal for every scenario.”
Apollo Auto Sales
$810,000 | SBA 504 Loan
Philadelphia, PA, Liberty SBF closes a $810,000 commercial mortgage for the purchase of a new automotive dealership facility for Apollo Auto Sales, a luxury pre-owned auto dealership located in suburban Philadelphia. The family-owned business had already been operating out of three separate but smaller facilities, but with business booming and their lots bursting with autos, the family said they needed to expand. After finding the perfect location in a building nearby, Liberty SBF structured a first and second mortgage for the purchase of the larger headquarters. The financing structure is comprised of a $450,000 first loan arranged by Liberty SBF and a $360,000 second mortgage directly funded by Liberty SBF on a $900,000 purchase. The second loan included $75,000 for improvements for the new building, which is estimated to be worth $1.1M after the renovation work is completed.
Asian Star Auto
$325,000 | Cash-Out Refinance
Los Angeles, CA, Liberty has also provided a $325,000 “owner occupied” commercial real estate refinance loan to the owners of Asian Star Auto, a high-end auto repair shop in Los Angeles, CA. An experienced sole proprietor and the long-time business owner took cash out in a trust deed refinance loan to consolidate debt and expand his growing business by hiring new mechanics.
$1,500,000 | Cash-Out Refinance
Washington, DC, Liberty SBF closes a $1.5MM “owner occupied” commercial real estate refinance loan for the owners of Hyattsville Laundromat, a small business in suburban Washington D.C. The sponsors who run this successful family business have had tremendous success managing this asset and will use the loan proceeds to purchase additional locations and expand their business. Liberty was able structure max loan proceeds by including both real estate and equipment as collateral.
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