$19,000,000: $10,200,000 “Non-Recourse”

Credit Facility and $8,800,000 in JV Equity Financing
for 9,550 SF Creative Office Conversion with Ground

Floor Retail in Miami, Florida.

$4,100,000

Transaction Description

Loan for an office property in Seattle, WA. 

LoanBase successfully arranged a $4,100,000 10- year fixed loan to refinance for an office building in Seattle. The Borrower was seeking for a solution with transparency, efficiency of product, and reduced transaction costs. The Borrower who is a real-estate investor requested long term, non-recourse financing.

Although the sponsor wanted a low fixed rate, he was seeking a banking relationship in
order to refinance various other projects in his portfolio as well. The complex is situated-
ed in a prominent area of Downtown Seattle,
adjacent to a strong retail corridor. The asset was built in 1984 and consists of more than 21,500 square feet of modern office space.

Strategy:

After completing the quick survey detailing his asset, LoanBase was able to connect
the Borrower with 20 lenders, each providing live quotes that matched the Borrowers
criteria. The Borrower was then able to converse and strategize with lenders of their
liking in order to achieve quotes that fit his/her needs.

There were a few hurdles that LoanBase and the Borrower had to overcome in order to
secure financing for the asset, including that the property was only 70% occupied due
to COVID-19. The Borrower was seeking a lender that would be comfortable moving
forward with the loan, and was willing to create a partnership with the Borrower for
his/her future portfolio.

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Transaction Details

Loan Amount: $4,100,000

Rate: 3.51%

Term: 10 Years

Amortization: 30 years

LTV: 70%

DCR: 1.25x

Prepayment: 3, 2, 1

Recourse: Non-Recourse

Lender Origination Fee: None

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Successful Results:

Despite the hurdles, Loanbase was able to source a lender who understood the asset, market despite the COVID-19 vacancy challenges, and believed in the Sponsors business plan. LoanBase was able to assist the Borrower through every step of the way in order to achieve their goals. The Borrower was
able to attain non-recourse, long-term 10-year financing, fixed rate of 3.51%, 70% LTV, with a 30-year amortization. The transaction was closed within 45 days of loan application and left both lender and borrower with a desirable result and a long-lasting partnership on future investments.

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$1,250,000

Transaction Description

Loan for a multi-family property in Berkeley, CA. 

LoanBase successfully arranged a $1,250,000 2- year bridge loan for a 6-unit multi small 6units multi-family building in Berkeley, CA. The Borrower was seeking for a solution with transparency, the efficiency of the product, and reduced transaction costs. The Borrower who is a real-estate investor requested long term, non-recourse financing.

Although the sponsor wanted a low fixed rate, he was seeking a banking relationship in
order to refinance various other projects in his portfolio as well. The complex is situated near the UC Berkeley Campus and closes to the BART station and a 15-min walk from Berkeley downtown. The asset was built in 1962 and consists of 4
units. The developer added another 2-unit building at the back of the lot and needed a bridge loan to allow plans submission, permitting, and construction period. At the end of the process, the lot contained 4 units two-story building and another 2 units two-story building, increasing the value of the property by over 78%.

Strategy:

After completing the quick survey detailing his asset, LoanBase was able to connect
the Borrower with 12 qualified lenders, after searching over 210 bridge lenders in its database each providing live quotes that matched the Borrowers criteria. The Borrower was then able to converse and strategize with lenders of their liking in order to achieve quotes that fit his/her needs. The borrower got a tailored quote based on their specific needs with a lender that specializes in that area.

There are many challenges with construction projects and that’s why having the right lender to back you up is a crucial key to success. LoanBase mission is to find a lender that understands the client’s needs while saving 90% of time spent on search and research. a simple search in LoanBase engine brought up dozens of qualified lenders with a specific offering that fitted the client’s needs- and fits just like a glove. The Borrower was seeking a lender that would be comfortable proving a max leverage loan (75%-80%) at a rate that is less than 8%/yr with proven ability to close within 30 days.
The end result was better than the initial expectation as LoanBase was able to secure a lender that granted an 80% LTC loan with a lender 6.95% rate.

 

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Transaction Details

Loan Amount: $1,250,000

Rate: 6.95%

Term: 2 Years

LTV: 80%

DCR: 1.25x

Prepayment:  no pre-pay

Recourse: Non-Recourse

Lender Origination Fee: None

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Successful Results:

Despite the hurdles, Loanbase was able to source a lender who understood the asset, market despite the COVID-19 vacancy challenges, and believed in the Sponsors business plan. LoanBase was able to assist the Borrower through every step of the way in order to achieve their goals. The Borrower was
able to attain non-recourse, long term 10-year financing, fixed rate of 3.44%, 70% LTV, with a 30-year amortization. The transaction was closed within 45 days of the loan application and left both lender and borrower with a desirable result and a long-lasting partnership on future investments.

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$1,800,000

Transaction Description

Loan for an industrial property in Phoenix, AZ.

LoanBase successfully arranged a $1,800,000 30-year fixed loan to refinance an industrial property in Phoenix  The Borrower was seeking a solution with transparency, the efficiency of the product, and reduced transaction costs. The Borrower who is a real-estate investor requested long-term, non-recourse financing.

Although the sponsor wanted a low fixed rate, he was seeking a banking relationship in
order to refinance various other projects in his portfolio as well. The complex is situated-ed in a prominent area of Glendale Phoenix adjacent to a strong retail corridor. The asset was built in 1972 and consists of a warehouse and fulfillment center. 

Strategy:

After completing the quick survey detailing his asset, LoanBase was able to connect
the Borrower with 42 lenders, each providing live quotes that matched the Borrower’s
criteria. The Borrower was then able to converse and strategize with lenders of their
liking in order to achieve quotes that fit his/her needs.

There were a few hurdles that LoanBase and the Borrower had to overcome in order to
secure financing for the asset, including that the property was only 60% occupied due
to COVID-19. The Borrower was seeking a lender that would be comfortable moving
forward with the loan, and was willing to create a partnership with the Borrower for
his/her future portfolio.

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Transaction Details

Loan Amount: $1,800,000

Rate: 3.42%

Term: 10 Years

Amortization: 30 years

LTV: 75%

DCR: 1.20x

Prepayment: 3, 2, 1

Recourse: Non-Recourse

Lender Origination Fee: None

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Successful Results:

Despite the hurdles, Loanbase was able to source a Lender who understood the asset, market despite the COVID-19 vacancy challenges, and believed in the Sponsors business plan. LoanBase was able to assist the Borrower through every step of the way in order to achieve their goals. The Borrower was
able to attain non-recourse, long term 10-year financing, fixed rate of 3.60%, 70% LTV, with a 30-year amortization. The transaction was closed within 45 days of loan application and left both lender and borrower with a desirable outcome and a long lasting partnership for future investments.

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