CLOSED: Current Debt Refinance

In July of 2022, our client closed on the refinance of current debt. The collateral properties for the deal are located in Elk Rapids, Michigan and Williamsburg, Michigan. The loan proceeds are being used to pay off the current debt on the properties and provide working capital to provide improvements on the Williamsburg property. The requested loan amount for this deal was $1,834,000.00. The property size is 4,686 square feet situated on 68 acres. The LTV was 56%. 


FUNDED: Cannabis Cultivation Facility

In August 2022, we closed on a loan to complete the buildout of a cannabis cultivation facility. The collateral property is located in Iron Mountain, Michigan and the loan proceeds are being used to cover the finishing touches on the subject property’s renovation. The requested loan amount for this deal was $761,150.00. The property size is 8,850 square feet situated on 0.83 acres. The LTV was 65%.


$900k+ Closed in Mount Dora, Florida

In September 2022, our client closed on the purchase of an office building located in Mount Dora, Florida. The subject property will be primarily owner-occupied with two additional tenants. The requested loan amount for this deal was $908,200.00. The property size was 4,040 square feet situated on 0.50 acres. The LTV was 65%.  

 


Residential Property in Tennessee Closes in 14 Days

Commercial Capital BIDCO's client was able to close on the refinance of a residential property in Columbia, Tennessee in April of 2022. The client used a portion of the loan to buy out an investor while the other portion will be used to finish construction of the house. The requested loan amount was $250,000.00 and we were able to get this closed in just 14 days.


Client Closes on Office Suite in North Carolina

Commercial Capital BIDCO's client closed on the purchase of a 1,600 sq. ft. office suite in Huntersville, North Carolina on April 11, 2022. The property will be owner-occupied with the borrower moving all operations of their company from a leased space. The requested loan amount for this deal was $256,750.00 with an LTV of 65%.


Refinancing on South Carolina Restaurant Closes

A Summerville, South Carolina client closed on the refinance of their 6,132 sq. ft. restaurant on April 22, 2022. We were excited to help our client on this deal. The refinanced funds will be used to complete the construction of their restaurant and make any other improvements moving forward. The requested loan amount for this deal was $975,000.00 with an LTV of 55.7%.


Refinancing Deal for Tennessee Manufacturing Plant

We were able to help our client close on the refinance of a cloth materials manufacturing property and the accompanying land on June 1, 2022 in Church Hill, Tennessee. The client was excellent to work with and we were able to close quickly on this 283,197 sq ft property along with the 167.55 acres. The LTV with this deal was 63% and requested loan amount was $3,022,500.00.

A portion of the loan was used to pay off existing loans, and the remaining portion was used as working capital.


Bridge Loan Secured for Apartment Building Acquisition Prior to Construction Loan

In May of 2021, Commercial Capital BIDCO closed on the acquisition of a soon-to-be-developed apartment building within an Opportunity Zone in North Carolina where our client purchased the property for $850,000.00. The client needed a bridge loan for the acquisition of the 54-acre property so that he could keep it secured while working on the construction loan. We were able to close this loan at the amount of $425,000.00 in just three weeks from start to finish. This was an excellent opportunity for our client while waiting on future funds to be secured for construction and updates.


Cash Out Refinance Closed for Client Purchasing Golf Course in Georgia

On August 16, 2021, our client closed on a cash out refinance of a recently purchased golf course located in Georgia with a size of 190.04 total property acres. Funds from the cash out refinance were used to purchase maintenance equipment needed for the course and provide working capital. Our client plans to seek permanent financing with a local bank once one year of ownership has been obtained. The property is valued at $2,498,339.00 and the full loan amount for this deal was $840,000.00 with an LTV of 34% and a LTC of 56%. 


Commercial Capital BIDCO Closes a Cash-Out Refinance in 3 Days for New Client

Commercial Capital BIDCO Closes a Cash-Out Refinance in 3 Days for New Client

In November of 2021, we closed on a cash-out refinance of a single-family residency in Greensboro, Georgia. The long-term rental home is a lake property and that area is a very popular vacation site for people in that region. The rental is a 5-bedroom, 4.5 bath property with sweeping views of the lake.

 

This loan was closed in just 3 days and was conducted for a new client of ours here at Commercial Capital BIDCO. This particular client needed to close in three days due to another lender dropping the ball on the deal last minute. Reports and other documents were ready once we took over the deal and this allowed us to quickly complete the transaction and get the client the funding they needed when they needed it.

 

The loan term for this deal is 6 months and we have first lien position on the property. The requested amount was $1,695,000 and the appraisal value of the property as of October 21, 2021 was $2,600,000. This property is 65% LTV.

 

The client will now be using the home as a rental property that at the time of closing had an executed 12-month lease agreement. The cash-out received by the client was used as a down payment on a separate investment property.