Waterford Bank has been a phenomenal partner in seeing that this process was done thoroughly, with precision and quick underwriting. Waterford Bank committed to the project and was able to close within 45 days, you don’t see that all too often.
Toledo, OH (PRWEB) October 15, 2013
Four neighborhood shopping centers valued at $19.2 million, with national retail anchors, totaling over 330,000 square feet of highly desirable retail property has received financing from Sylvania, Ohio based Waterford Bank in the amount of $11.8 million.
Toledo based commercial real estate investor Mr. Ramy Eidi, CEO of Eidi Properties, a privately owned firm, in conjunction with Waterford Bank Vice President Andy Maher, worked in short time to secure the financing for this deal. Mr. Eidi stated that “Waterford Bank has been a phenomenal partner in seeing that this process was done thoroughly, with precision and quick underwriting. Waterford Bank committed to the project and was able to close within 45 days, you don’t see that all too often.”
“Banks like Waterford allow for markets to maintain stability during downturns in the economy by fully understanding their product and allowing for growth. As a private investor, I appreciate the relationship I have with Waterford Bank and Andy Maher. They have worked with me to find the best solutions for my long term and short term goals. During a time when this industry faced extreme adversity, Waterford Bank helped private investors, like me, and that is something that will always stay with me,” Mr. Eidi is quoted as saying with regards to his choice of financing partners. Mr. Eidi opines further, stating, “Now that the economy is improving and a multitude of banks are lending again, some aggressively, investors should never lose sight of, nor forget the banks that kept the industry wheels turning when times were tough.”
Mr. Eidi’s private portfolio includes 1.4 million square feet of commercial real estate consisting of 22 shopping plazas. Mr. Eidi’s portfolio includes properties in Southwest Ohio, Central Ohio, Northwest Ohio and Southeast Michigan.