Prime downtown commercial property on Main Street, Park City purchased for $2,950,000. A seasoned commercial property and business owner sought a well located building for his film production and event hosting company, near the world renowned Sundance Film Festival. Time was of the essence as a terrific value was negotiated for an early close. The borrower’s mortgage broker, Jeff Meierhofer, Director of Finance at the Madison Group was terrific. Jeff and his team assisted in collecting the documentation while the Seattle Funding Group team evaluated, inspected and appraised the subject asset. With the relationships already developed from years of SFG lending in the area, including one just a block away the deal closed well ahead of schedule and the borrower captured their discount.
SFG’s value analysis was in part assisted by Scott Thomson of Commerce CRG Utah LLC, who we have used in the past and has a terrific grasp of the Park City commercial real estate nuances. Scott helped SFG put together a team of building inspectors and contractors to assist in expeditiously evaluating the properties condition. Thanks again Scott.
59% LTV
