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Scenario: You’ve got a client that wants to take out a mortgage loan. Normally, you would take your clients straight to the big banks, but this client isn’t going to get approved because maybe they have a non-conventional income or maybe they had a rough financial year. Either way, the banks won’t have it. But you argue that they have good credit and perfect pay histories on their investment real estate.…Continue
Added by Paul Castagna on October 29, 2015 at 9:26am — No Comments
Aetna was retained to place permanent financing for a cash out.
The property is a renovated 82,064 square feet IMAX theater.
The challenges were the tenant was not investment grade, the adjacent mall was 37.9% occupied & the sponsor was seeking a 75% LTV, on a property that was difficult to value.
The sponsor purchased both the mall & movie theater in 2014, for $13,000,000 & invested an additional $3,000,000 in TI for the theater. …
Added by Paul Castagna on October 1, 2015 at 3:35pm — No Comments