Liberty SBF provided a $872,500 first mortgage and a $698,000 interim second mortgage for a total of $1,570,000 in SBA 504 financing for the acquisition of a 5,130 SF industrial building in Brooklyn, NY. The building consists of 4,617 SF of industrial space and 513 SF of office space, as well as a small cellar utilized for additional storage.
The company provides electrical services to buildings under construction. Services include wiring installation, electrical breaker box installation, fixture installation, and utility hook-ups, among others. The majority of its projects are residential properties.
Liberty SBF also provided the borrower with additional SBA 504 financing for the purchase of a second property. Click here to read the details of that deal.
How can we help?
Liberty SBF offers personal service for SBA 504 and Conventional loans for owner-user properties across the US. We’d love to help you.
Hangar exterior with rolling gates. 3d illustration
Liberty SBF has closed a first mortgage loan totaling $2.2MM for the acquisition of a 7,500 SF warehouse in San Francisco, CA. The building includes three suites which is occupied by two other tenants and the borrower.
The borrowing entity is a halal butcher shop specializing in
the processing and sale of poultry. They will use most of the property to sell a
variety of poultry to retail customers and local restaurants in the Bayview
neighborhood and greater San Francisco Bay Area.
How can we help?
Liberty SBF offers personal service for SBA 504 and Conventional loans for owner-user properties across the US. We’d love to help you.
Liberty SBF has closed a first mortgage loan totaling $2.2MM for the refinance of an AmericInn by Wyndham, a three-story, 69-room, limited-service hotel located in Mounds View, MN. The borrower will use the funds to restructure the ownership of the property.
The AmericInn by Wyndham in Mounds View, in the growing Minneapolis MSA, opened in 2002, and underwent a $1 million+ renovation in 2018. Connected to Mermaid Entertainment & Event Center, the National Sports Center, and various corporate offices, the hotel benefits from both local and regional demand.
How can we help?
Liberty SBF offers personal service for SBA 504 and Conventional loans for owner-user properties across the US. We’d love to help you.
Liberty SBF has closed a $1.465MM Conventional loan for the refinancing of a one-story, 12,700-square foot industrial property, located within the Rancho Center Industrial Park in Rancho Cucamonga, CA. The company fully occupies the space. The loan will also fund equipment acquisition and additional working capital.
The Southern California property is located 15 miles north of Riverside, CA and 37 miles east of Los Angeles, in the fast-growing Inland Empire MSA, served by Interstate 10 and 15 freeways. The company services manufacturers with a specific niche market in the pool and spa industry, in addition to the aerospace, furniture, construction, lumber yard, and boat and RV industries. The founders and owners have successfully operated the company for more than 30 years. They acquired the property in 2006.
How can we help?
Liberty SBF offers personal service for SBA 504 and Conventional loans for owner-user properties across the US. We’d love to help you.
Liberty SBF has closed a $3.39MM conventional loan for the refinancing of a 16-unit adult residential facility located in Vallejo, CA. The loan will refinance the existing debt on the property, and provide funding for the borrower’s acquisition of a 49-bed assisted living facility in Mill Valley, CA.
Built in 1965 and with 100% occupancy, the 16-unit, 32-bed transitional facility for mentally challenged adults prepares residents for independent living. The appraised value for the Mill Valley property was $7.0MM, excluding business value of $700K. Liberty’s 1st Lien represents an as-is LTV of 48.5%. The principal guarantors have more than seven years of experience in the development, rehabilitation, and management of senior/adult care facilities.
How can we help?
Liberty SBF offers personal service for SBA 504 and Conventional loans for owner-user properties across the US. We’d love to help you.
Liberty SBF has closed a $3.53MM conventional loan for the refinancing of two assisted living properties in Saint Cloud and Palatka, FL by an experienced owner/operator, Aleph 1 Realty, LLC. The properties are the two-story, 40-bed Homestead Retirement Home in Saint Cloud and Kiva of Palatka, a one-story, 40-bed assisted living facility.
Paramount ALF, Inc. is the operating company that has run both facilities since 2016, when the borrower purchased the properties. Built in 1909, the two-story, 40-bed Homestead Retirement Home in Saint Cloud is 100% occupied. Kiva of Palatka, built in 1986 and 2003, is 70% occupied. The borrower, Aleph 1 Realty, LLC, has extensive experience as owner and operator in the assisted living industry.
The loan enabled the borrower to make functional improvements of both properties, and to buy out a business partner’s remaining interest.
How can we help?
Liberty SBF offers personal service for SBA 504 and Conventional loans for owner-user properties across the US. We’d love to help you.
Liberty SBF has closed a $1.04MM first and interim second lien SBA 504 loan for the acquisition of a one-story, 4,150 SF office building, located in Federal Way, WA. The company also acquired the property’s 20,652 SF of excess land for parking and for potential future development.
The loan for the property, located 10 miles northeast of Tacoma and 24 miles south of Seattle, comprises the $613.3K SBA 504 first mortgage and a $429.3K SBA 504 interim second mortgage. The 24-hour towing and roadside assistance provider in Seattle bought the distressed business in December 2017, and has significantly improved its performance since acquisition
The company will occupy the building area that is not occupied by an existing tenant, and use the excess land for its towing company. The building was constructed in 1988.
How can we help?
Liberty SBF offers personal service for SBA 504 and Conventional loans for owner-user properties across the US. We’d love to help you.
When Liberty SBF decided to replace office chairs in its Philadelphia office, they thought that the old furniture shouldn’t go to waste.
“The old ones were still in good condition and we didn’t want to throw them away to sit in a landfill,” said Joe Breen, an intern in the company’s credit department.
Liberty SBF took the time to reach out to a few donation centers and finally settled on Habitat for Humanity Philadelphia.
“Habitat for Humanity Philadelphia was enthusiastic about taking the 15 chairs we donated,” said Liberty SBF Recruiting Director Meghan Schmidt.
The organization told Liberty SBF that after they build a house, they can furnish them with gently-used furniture, or the sell them to raise money for their building costs.
Front exterior of an industrial warehouse building in Queensland Australia. Click to see more…
According to JLL, flex office space is growing by an average of 33 percent each year, accounting for almost two-thirds of US occupancy gains. No markets are over-saturated, and there are plenty of opportunities for this type of asset in many US metropolitan areas. The top ten growth markets are New York City, San Francisco, Silicon Valley, Austin, Boston, Northern Virginia, Washington DC, Seattle, Denver, and Los Angeles’ Westside.
Arizonans Named SBA Small Business Persons of the Year
Jennifer and Jeff Herbert, founders of Superstition Meadery in Prescott, Arizona, were named 2019 SBA Small Business Persons of the Year. They produce mead (fermented honey with fruit, herbs, and spices), the world’s oldest known alcoholic beverage. The Herberts grew their $5.5 million, 140-employee, two-locations business with SBA financial and counseling support. An SBA 504 loan covered the costs of constructing its new distribution and franchise support center in 2017.
What You Need to Know About SBA 504
TMC Financial’s CEO Barbara Morrison spoke about SBA 504 lending to cpexecutive.com. She was asked about the three main things borrowers don’t usually know about 504 lending. One thing she said was that many business owners are unaware of the program and its 10% down payment, which she called a “game-changer” for many owners. Other business owners weren’t aware they qualify as “small” business owner. “The SBA’s definition of ‘small’ is substantially larger than what most people assume. The truth is, most for-profit businesses qualify,” she said. Morrison also said that there is a misconception about how long it takes to get SBA financing.
Liberty SBF Adds New Originator to Fast-Growing National Team
Liberty SBF is excited to announce that Carlos Vasquez, MBA has been appointed VP, Originations, a new originator on our fast-growing national team of top-ranked commercial real estate professionals. Based in Austin, Mr. Vasquez will further increase our capacity to provide high leverage fixed-rate SBA and conventional loans in Texas.
How Can We Help You?
Liberty SBF offers quick closings for SBA 504 and conventional loans. We’d love to help you.
A commercial landscaping company in the Inland Empire, CA recently refinanced an SBA 504 loan with a very competitive fixed-rate Conventional loan from Liberty SBF.
The owners used the proceeds to pay off an existing lien on an industrial property and took cash out for working capital to pay down short-term debt and purchase new vehicles and equipment.
How can we help?
Liberty SBF offers personal service for SBA 504, bridge and conventional loans. We’d love to help you.
As a global economic downturn begins to take shape, late-cycle commercial real estate investors are focusing on industrial and multifamily as the asset classes that will best weather any coming storms—unlike the office and retail boom that preceded the 2008 crash. The Federal Reserve’s stricter controls on construction loans have effectively prevented overdevelopment, say industry observers, giving rise to predictions that the approaching downturn will be relatively gentle.
Self-Storage Spotlight
Don’t miss the just-published Self-Storage Spotlight, a comprehensive report by Liberty SBF market analysts that surveys every aspect of the “recession-proof” self-storage market and its current, extended growth cycle.
E-Commerce Packages Overflowing Lockers
E-commerce is growing by 20% every year. Multifamily owners have installed digital storage lockers to help handle the heaps of e-commerce packages that don’t make it to tenant doorsteps. Space is limited, lockers are fast becoming overloaded, and adding more lockers is costly and non-scalable as volume increases. One solution is Fetch, a smart new offsite service company that offers multifamily operators unlimited storage for everything from meal kits to mattresses, and allows tenants to schedule deliveries at their convenience.
Liberty SBF Provides $1.6M for Warehouse Acquisition
Liberty SBF successfully closed a $1.6 million SBA 504 loan, in partnership with Florida Business Development Corporation, for an appliance supply company’s acquisition of a warehouse property near Orlando, FL. Despite a delay due to last month’s government shutdown, the transaction closed within a very tight timeframe. Liberty SBF provided 90% LTV financing with both a first and interim second lien loan, allowing the business owner to preserve cash for working capital.
An Overview of the Self-Storage Market
For a quick, clear overview of the robust national self-storage industry, see the market-by-market slideshow by nreionline.com that ranks 36 US MSAs by population and employment growth statistics, vacancy rates, and completed facilities. The #1 growth market? Las Vegas.
How Can We Help You?
Liberty SBF offers quick closings for SBA 504 and conventional loans. We’d love to help you.
A dent-and-scratch appliance supply company near Orlando, Florida recently acquired a 34K square foot warehouse with a $1.6MM SBA 504 loan from Liberty SBF. The deal closed within a very tight timeframe even allowing for a delay due to the government shutdown.
Liberty SBF provided 90% LTV financing with both a first and interim second lien loan allowing the business owner to preserve cash for working capital. Florida Business Development Corporation partnered with Liberty SBF on the deal and will provide the government guaranteed second lien loan when the debenture funds. By purchasing this property, the business owner is saving money on monthly, rent improving cash flow.
How can we help?
Liberty SBF offers personal service for SBA 504, bridge and conventional loans. We’d love to help you.
Feds Update Congress, Economists Await Jobs Report
Last week the Federal Reserve reported to Congress that the U.S. economy had maintained “solid growth” in the second half of 2018. In its monetary policy report the Feds gave a mostly sunny outlook for the economy balanced against what Reuters called “emerging domestic and global risks.” Economists are looking forward to this week’s jobs report. Last month the report showed better than expected results and that the job market continued to be a bright spot. Among the industries that led job gains last month were leisure and hospitality, construction, and health care.
Available Healthcare Space With Tighten Further in 2019
In an article about medical properties in Houston, GlobeSt.com talked about the tightening of healthcare space in some markets. The cause us that the number of people who are 65 and over is growing at a much faster rate than the population of people under 64-years-old. Demand for healthcare space in the US could top 225.8 million square feet by the end of 2019. In comparison, it is estimated that there was “110 million square feet of available medical office space in existing and under-construction buildings in the US as of the second quarter of 2018.”
$12.9M Healthcare Facility Closes with Liberty SBA 504 Loan
A skilled nursing home in Tucson, AZ, recently closed with the help of $12.9 million in financing from Liberty SBF. Liberty provided both the $8 million SBA 504 first loan and a $4.9 million interim loan to allow the transaction to proceed while the CDC portion of SBA 504 loan is being completed. Sapphire of Tucson Nursing & Rehab is the area’s only privately-owned skilled nursing facility.
Florida Shines as State Where Most Seniors Want to Retire
Assisted Living and Skilled Nursing Facility owners take note: It’s true, older Americans really do prefer to retire to Florida. In it’s Fun Statistics About Seniors section SeniorLiving.org says that in according to the U.S. Census, the state had the highest percentage of senior residents (19%). Which state had the lowest? Alaska at 9.5%. Probably most obvious were the top reasons seniors gave for preferring the Sunshine State: warm weather and no state taxes.
The Enormous Opportunity for Owner-Occupied Healthcare Facilities
It’s no secret that healthcare in the United States is big business. In 2017, Americans spent nearly $3.5 trillion on their healthcare, and the U.S. Centers for Medicare and Medicaid Services is estimating a 5.3% increase this year. By 2026, that spending is projected to reach $5.7 trillion.
That growth has a whole range of implications, but today we’re going to narrow in on what it means for the real estate market – more specifically, the market for owner-occupied healthcare facilities, and the ways that they can be a perfect fit for SBA 504 financing. Read more.
How Can We Help You?
Liberty SBF offers quick closings for SBA 504 and conventional loans. We’d love to help you.
The Latest Commercial Real Estate News From Liberty SBF
The 18 CRE Trends That’ll Dominate 2019
Prognostication is always a risky business, but nevertheless, Bisnow found some industry experts willing to play Nostradamus for the coming year. A few predicted highlights include a continued boom in industrial demand from eCommerce, rising interest rates, and record-breaking hotel occupancy. Check out the full list.
Flexible Space Sees Major Growth
As technology changes the way people live, work and commute, investors are increasingly looking to invest in buildings with a high percentage of flexible space, reports GlobeSt. In fact, JLL recently noted that office flex grew by 29% in 2017, and is likely to grow by more than 25% in 2018.
Just Closed! $1.5M SBA 504 Loan for Retail Space in New York
Liberty is happy to announce that we’ve just closed a $1.5 million SBA 504 loan for the acquisition of a retail property in the Glendale neighborhood of Queens, NY.
Industrial Construction to Swell in Chicago
Similar to the national market, Chicago has seen record-breaking industrial construction in the last few years, including finishing 19 million SF in 2016 and 22.6 million SF in 2017. Though growth hasn’t been as strong in 2018, experts believe it will ramp up again soon in response to increasing demand from users and investors.
Liberty Funds More Than $39 Million in Recent Industrial Acquisitions
Recently, Liberty has funded more than $39 million in industrial and warehouse acquisitions for business owners taking advantage of some of the hottest industrial markets in the country.
2018 Prediction Scorecard
We’ve got to give it to the folks at Bisnow for being willing to assess the accuracy of their predictions from last year. From a booming industrial sector to leisure travel-focused hotels to senior housing, they gave themselves a passing grade. Maybe that means good things for their 2019 predictions?
How Can We Help You?
Liberty SBF is the #1 ranked non-bank SBA 504 lender by volume in the country. We offer personal service for SBA 504, bridge and conventional loans. We’d love to help you.
