Tag: Just Closed

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Just Closed: $14M Non-Recourse Bridge Loan for Multifamily

Posted on by Courtney Finello

In late December 2021, Liberty SBF closed a $14 million non-recourse bridge loan at 70% LTV for two Class B multifamily properties in Dublin, GA. The Sponsor plans to use the loan proceeds to renovate and restore the 202 units across the two properties, with the goal of increasing cash flow and overall value.

Once renovations are complete, the borrower plans to raise rents by 25-30% to be in line with the local market. Located along the second-busiest and fastest-growing seaport on the East Coast, the asset also includes sufficient land to build 60 or more units. The Sponsor plans to refinance out of the bridge loan to a long-term Agency loan after executing the business plan.

The Sponsor is an experienced multifamily property owner with over a decade of experience. Investing their own capital alongside that of their investors, the Sponsor seeks out properties that are undervalued due to poor management and/or design.

Interested in applying for a commercial real estate loan with Liberty SBF? Click below to learn more about our secure online application process.

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Just Closed: $5.1M Bridge-to-504 Loan for Industrial Property

Posted on by Courtney Finello

Liberty closed a $5.1 million bridge loan for the acquisition of an industrial building in Las Vegas, NV. The Sponsor required interim bridge financing for a quick close and will refinance to a low-cost, high-leverage SBA 504 loan in the spring of 2022. Our team is currently working on SBA approval.

Currently valued at $7.5 million, the Subject is a 61,400 SF industrial building situated on a 4.84-acre site. The property comprises a large warehouse space with 26-foot ceilings, several offices, and 42 parking spaces.

The borrower is an industrial packing materials company offering supplies such as moving boxes, packing foam, moving kits, printing labels, poly bags, and more. With 95% of sales coming from e-commerce, the business grew nearly 40% from 2019 to 2021. The acquisition allows the owners to increase warehouse space by 15,000 SF and gain greater control over operating costs.

Interested in applying for a commercial real estate loan with Liberty SBF? Click below to learn more about our secure online application process.

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Just Closed: $1.1M SBA 504 Loan for Multi-Tenant Office Building

Posted on by Courtney Finello

Liberty SBF closed a $1.1 million SBA 504 loan at 90% LTV for a multi-tenant office building acquisition in Poway, CA. The borrower acquired the building for $1.2 million.

Located 30 minutes north of San Diego, this two-story, Class C office building will be owned and partially occupied by the Sponsor. The business owners, who operate a full-service boutique real estate firm, will occupy three of the six total units in the building and lease out the remaining three. The building was constructed in 1975 and is 4,400 SF.

Interested in applying for a commercial real estate loan with Liberty SBF? Click below to learn more about our secure online application process.