Article on New L.A. Skyscraper Highlights the Ongoing Existence of Vacant Office Building Properties, Notes First Financial Capital

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Commenting on the recent article, the Los Angeles area commercial real estate lender explains that those looking for new office space do not have to wait for the Wilshire Grand Center’s completion to move into a vacant space.

First Financial Capital is accepting loan applications for $1 million to $25 million.

The real problem, which First Financial Capital works toward solving, is that businesses find it difficult to attain the upfront funding necessary to move into these buildings.

According to an article published November 3rd by the New York Times, the Wilshire Grand Center, currently being built in downtown Los Angeles, is set to become the tallest building west of the Mississippi upon completion in 2017. Perhaps more important is that fact that the building will constitute the “first new tower-based office space in decades.” Yet, according to Los Angeles commercial real estate lender, First Financial Capital, this is not to say that there is currently a shortage of vacant office space in Los Angeles.

In fact, as noted by the article, Los Angeles has a citywide office vacancy rate of 18.3 percent, compared to the national average of 16 percent. First Financial explains that these buildings remain empty for several reasons, including location, building quality, and, most importantly, price. The real problem, which First Financial Capital works toward solving, is that businesses find it difficult to attain the upfront funding necessary to move into these buildings.

First Financial Capital explains that there are several ways that they work to help borrowers get access to the commercial real estate funding that they need. The first of which is by having an underwriting process that is transparent, fast, and designed from the ground-up to approve the greatest number of qualified applicants. First Financial Capital explains that borrowers are often frustrated at the criteria that conventional banks look at when determining loan eligibility, but they only look at metrics that would tangibly affect a borrower’s ability to payback a loan. In addition, First Financial Capital explains that they are fully funded, and are able to provide loans up to $25 million with favorable loan-to-value (LTV) ratios.

First Financial Capital notes that they have a great many repeat borrowers who know them as the go-to lender whenever they need funding for a number of special-purpose property types, including gas stations, car washes, apartments, and, of course, vacant office buildings. For more information, or to start the loan application process today, business and real estate owners can call First Financial Capital at (310) 694-5060, or visit them online at http://www.FirstFinCap.com. (Broker license number: CA DRE 01523939)

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Michael Clauw
Cyberset Corp
+1 (818) 883-7277 Ext: 121
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First Financial Capital
since: 12/2014
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