Three separate high quality retail centers in strong locations. Each center has a mix of local and national tenants including T-Mobile, Subway, and Pizza Hut. All three centers are located in Washington. Two centers are located in Seattle, one in University Village and the other on Lake City Way, the third site is in Bellingham between the freeway and Western Washington University. All are spectacularly located with high traffic counts and lease rates at or near the top of their respective markets. This borrower needed bridge financing as they absolutely had to close by month end. Period. They were coming out of a CMBS loan with severe penalties if the refinance wasn’t in place. Seattle Funding Group was able to close the transaction with a bridge finance loan in less than 2 weeks meeting the deadline. This was accomplished without sacrificing an appropriate amount of underwriting that included estoppels, environmental review, and formal appraisals. Nearly anything is possible with SFG when you have the borrower and lender both diligently working towards a common goal.
