Borrower Receives Loan Extension for Fast Food Chain's Commercial Property

The fast food industry has continued its booming growth through the decades and the appeal for high-quality meals on-the-go reigns supreme across multiple generations around the country. 

Looking to fund this ever-growing industry is always a sweet spot of ours here at Commercial Capital BIDCO. We're grateful to our borrower for a clean process! In October of 2023, our client closed on the extension of a loan for a commercial property located in Manhattan, Kansas at a requested loan amount of $1,040,000.00 with an LTV of 65%. The property itself is currently leased by a fast food chain and will continue this line of business in addition to implementing renovations thanks to the loan proceeds made possible with the loan extension. The renovations will enable the commercial building to receive its certificate of occupancy and the fast food chain can continue operations. 

Looking to franchise a restaurant or start a fast food business in your area - we work across the United States to provide funding opportunities when your primary lender is not able to. Let's talk through your goals and plans today! Reach out to us on our website: https://commercialcapitalbidco.com/apply/


Customer Closes on Commercial Property in Birmingham, Alabama

Birmingham, Alabama has been witnessing a resurgence in the last decade across multiple industries including food and beverage, hospitality, and entertainment thanks to the redevelopment of several regions throughout the metro area. Knowing just how well one could prosper in the heart of Birmingham, our borrowers set out to purchase a building downtown next to a thriving nightlife scene for the purpose of reopening the pre-existing restaurant along with plans for upgrades that would appeal to the already established customer base. 

Our borrowers closed on the purchase of the 795 square foot commercial property in Birmingham, Alabama in November of 2023 with a requested loan amount of $650,000.00. The LTV with the deal was 61%. In addition to the purchase of the current restaurant located at the property, loan proceeds will also be used to fund renovations such as cosmetic upgrades and a new HVAC system. In order to get this deal locked in and fully fund the improvements, we needed to get creative and was able to have additional liens placed on two other buildings owned by one of the guarantors - both located in the Birmingham area. 

"Working with the borrowers, Justin and Eric, was a pleasure. Seeing firsthand the passion they have for this project and the city of Birmingham was an inspiration," says David Runge, Business Development Manager for Commercial Capital BIDCO. Jeff Luker, Commercial Capital BIDCO VP and COO, echoed similar sentiments stating, "Seeing the revitalization of key cities across the country is part of the 'why' for what we do. We love being at the core of these investors' successes and seeing their goals align." 


Smooth Sailing in Florida With a Cash-Out Refinance

A long-time client to Commercial Capital BIDCO closed on a cash-out refinance of two commercial properties in Florida in August of 2023. One is located in Destin, Florida while the second is located at Steamboat Landing in Freeport, Florida. Loan proceeds from this deal will be used to pay taxes due on the sale of assets previously owned by the client. The requested loan amount for this deal was $765,000 with a LTV of 65%. This deal was closed and funded in just 30 days. We thank this client for their repeat business and look forward to many more "smooth sailing" deals in the future!

 


Upscale Wine Lounge Closes Cash Out Refinance in Pennsylvania

In September of 2023, our client closed on a cash-out refinance of an upscale wine lounge located in the beautiful borough of Rankin, Pennsylvania - just 10 miles south of Pittsburgh. The wine lounge provides a unique experience for special occasions, celebrations, date nights, friend gatherings, and more. The lounge also features multiple rooms and spaces to relax, gather, and unwind. Live music is featured throughout the week and a full dinner menu is available nightly. Our client has built an excellent path to success by incorporating unique concepts and an upscale feel for their customers.

Loan proceeds will be used to pay off a portion of their current debt as well as provide funds for upgrades and provide working capital. The requested loan amount for this deal was $2,650,000.00. The LTV was 59% and the size of the lounge is 14,000 square feet.  

 

 


Three Female-Owned Michigan Dispensaries Receive Funding

In June of 2023, our client closed on a loan to fund the acquisition of three cannabis dispensaries, as well as to provide the working capital needed to not only stock each of the dispensaries with necessary inventory but to also improve overall curb appeal of each dispensary. The requested loan amount for this deal was $7,350,000 across the three dispensaries.

The properties are located within three cities in Michigan including Spaulding, Manistee, and Benzonia. These properties are female owned and this deal was able to save 36 jobs! We are so proud to have been able to provide the funding needed to bring their inventory up-to-date, increase their curb appeal for their locations as well as save valuable jobs in these communities. 

Want to learn more about we can get you the funding you need to reach your commercial investment goals? Inquire today on our website by clicking here. 


Client closes on Cash Out Refinance for Golf Course in New York

Our client closed on the cash out refinance of a golf course and clubhouse located in Darien Center, New York in June of 2023. The loan proceeds from the cash out refinance will be used to pay off a note totaling an estimated $900,000. The remaining proceeds will be used as working capital as the client makes preparations for property updates and maintenance on the 18-hole, par 72 course as well as the clubhouse and other structures. 

The loan-to-value for this deal was 34% with the client requesting $1,050,000. The property sits on a total of 159.7 acres and the combined building size sits at 20,335 square feet.

We know that taking the time to find a direct lender who can fund your deal is "par for the course," but cut the search short and give Commercial Capital BIDCO a call today! We would be honored to talk through your deal and find the lending solution that suits your goals.

You can inquire today at: https://commercialcapitalbidco.com/apply/


Raw land in Montana to be developed into luxury "glamping" cabins

In May of 2023, our client closed on the purchase of raw land totaling 80 acres located in Columbia Falls, Montana. The vast property is located near the beautiful Glacier National Park as well as the ski resorts in Whitefish, Montana. Our client plans to develop a number of luxury “glamping” cabins and other housing accommodations in the Montana countryside - giving park-goers and vacationers ample opportunities for luxury while exploring the state's natural beauty. 

The requested loan amount for this deal was $1,110,000 and the property appraised for $1,850,000. The loan-to-value was 60%.


Kansas Restaurant Closes Cash Out Refinance

Kansas is known for their stellar restaurants and hospitality! We truly enjoyed helping our client to close on a cash-out refinance of a single-tenant restaurant located in Manhattan, Kansas in March of 2023. The funds for this deal will be used to pay down a seller’s note, which will then entitle them to the rent paid by the tenant. This loan request was $975,000.00 and had a 65% LTV. The property sits on .59 acres and includes a total of 2,556 square feet. 


Cash Out Refinance Closed for Golf Course in Mississippi

We love assisting our clients with a wide variety of commercial investment loans and this deal was no exception! On March 27, 2023, our client closed on the cash-out refinance of a golf course and club located in Gautier, Mississippi. The proceeds for this particular loan product will be used to pay off current debt on the property. The loan will also provide working capital for our client - allowing them to renovate existing amenities to the course and club as well as add new amenities that their recreation patrons can enjoy while on and off the greens. 

The total loan amount was $1,485,000.00 and had a LTV of 28%. Our LTV max is 65% so this deal fell well below that maximum for our requirements.

The property sits on approximately 194 acres. 


Georgia Golf Club Client Renews Loan for 2023

In January of this year, our client closed on the renewal of a previous loan they held with us. The original loan was a cash-out refinance on a golf course located in Bishop, Georgia that was secured in late 2021. The initial loan was used to purchase maintenance equipment as well as provide working capital. The renewal will continue to aide in the owner's focus of getting the recreational property in its best condition prior to securing a permanent financing solution.

The property is approximately 190 acres and includes a total building square footage of 6,665 sq. ft.

We are excited to renew their previous loan at a sum of $1,348,000.00.