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RealWebFunds Secures ,720,000 Commercial Mortgage Refinance for a Professional Medical Office Building
(PRWEB) August 15, 2005
RealWebFunds, Inc has closed a ,720,000 commercial property loan for a 15,145 s.f. suburban, professional medical office building in Longwood, Florida, a suburb of Orlando. The Class A office building is a multi-tenant property well located to a hospital campus. The property is 100% leased with six tenants. The building is owned by a commercial real estate investor and property manager who was looking to refinance with long term, fully leveraged, fixed rate financing. Several lenders offering small balance conduit programs competed to fund this commercial mortgage. The borrower decided to refinance two properties in his portfolio with the same commercial lender.
The borrower chose a conduit lender as they provided the highest leverage with the best par pricing on a 10 year fixed rate loan. The borrower locked rate at 5.22%. This non-recourse commercial mortgage has a 30 year amortization schedule and closed within 51 days of application. Christy Slye, Commercial Mortgage Specialist of RealWebFunds was the originator for this transaction.
About RealWebFunds
RealWebFunds, Inc. (http://www.realwebfunds.com) is a national commercial mortgage loan broker for real estate projects between 0,000 and ,000,000. RealWebFunds is known for encouraging competition among commercial mortgage lenders to find the best commercial real estate financing available. Our commercial loan experts and Internet based commercial financing tools result in a service that is unmatched in efficiency, speed and financing terms. In 2003, RealComm (http://www.realcomm.com) recognized RealWebFunds with a Digie Award for being a leader and innovator in the Commercial Real Estate industry.
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