Commercial real estate lending has been extremely difficult these days but it hasn't dried up completely.
Progress is being made and I see it every day from the investor community. Credit restrictions are of course tight but if there is equity or an exit strategy, there is money out there that want to see your scenario.
This month's highlights / fundings include:
Ohio- Small office building purchase. Borrower had the 25% to put down but the credit wasn't the best. We were able to offer a 75% ltv loan, fixed for 5 years and we closed in what took less than 60 days.
New York- Client needed to refinace his 26 unit apartment building but didn't have the net worth to get Fannie / Freddie financing. Quoted the mortgage broker a rate equal to his local lender (wamu) and we did the loan while the lender went BK!
Point to my blog is that commercial real estate financing isn't dead and I don't expect it will be. Yes, rents will come down in some markets as well as value, but the demand for performing properties is there.
Rather than stick your money in the stock market, why not take another look at income producing real estate?
We offer our services to mortgage brokers, realtors, bankers, attorneys and of course individual borrowers.
Thanks
Matt Williams,
AcuPen Financial
503-516-5823
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