This high profile, extremely well-located commercial property had been in the family for decades, and vacant for much of that time. In ordering their affairs and finances, the family decided the best approach to maximizing value would be to piggyback on a pending Community Plan Update to improve the height, density and parking elements before taking this prime assemblage back to market. They engaged the capable professionals of Urban Housing Partners to assist as the Entitlement and Development Management Team in that arduous process.
The commercial broker representing the property owner/seller had done business with Seattle Funding Group of California previously, albeit back in the fall of 2010. At that time, her client was an international investor, buying a vacant commercial building in downtown San Diego. With the market still very much in the downdraft, and with very little time remaining to close that earlier transaction, she was introduced to SFG of CA and our highly responsive bridge lending capabilities. And SFG of CA did what the banks simply couldn’t, let alone at that time in the cycle. We provided immediate deal certainty, closed quickly, and her clients long ago paid off SFG of CA while repositioning that raw opportunity into a successful, long-term income producing asset for the Mexico City based buyer. Our sincere thanks to Jeannine Savory of The Savory Group for remembering us, and for the repeated introductions to her various clients.
Repeat and referral business remain a meaningful percentage of SFG’s overall closing volume, owing in large part to our consistent performance, whether with our bridge or construction financing products, whether to build your project, or build value in your property before marketing and sale. Deal certainty, market knowledge, fair pricing, and three decades of consistent performance…core strengths and capabilities of The West’s leading private, portfolio lender.
