This program is very good for properties that are in transition and have high vacancy rates that most banks will not finance. The interest rates are currently in the mid 5's. This program will also consider borrowers who have less than stellar credit on a case by case basis with more flexibility than traditional lenders.
These loans are non-recourse and available to foreign nationals. Available in cities/metroplitan centers with populations of 200,000 and up. No seasoning required.
$10M maximum loan amount. 75% maximum LTV. Lender par pricing.
||$6.438M refinance loan for Richmond VA Shopping Center with 154,000 sqft of rentable space. The loan is fixed for 10 years at 6.37% and amortized over 25 years. The original loan amout was increased by $138,000 to enable the lender to do a hold back for deferred maintenance.
Since it's founding in June of 1998 Gomberg Financial Services has originated over 450 commercial loans.
If you would like more information on any of our commercial loan programs, please contact our office at 781-631-7929