Alamo, CA (PRWEB) October 19, 2006
RealWebFunds, an internet-based national commercial mortgage broker, announced today that it has provided a $3,450,000 acquisition loan for a credit tenant neighborhood grocery store in Beaumont, CA. The loan was collateralized by a 57,000 square foot neighborhood grocery store whose lease expires in 9 years.
“One of the investors from the acquisition team called me late on a Thursday. She explained that they were doing a 1031 exchange that had to close in less than 30 days. The lender they were working with was not making progress. With less than 30 days to close, they needed to switch gears,” said Christy Slye, a commercial mortgage broker for RealWebFunds. "The borrowers were looking for a 10 year fixed rate permanent mortgage that was non-recourse, with no reserves. RealWebFunds delivered a commercial loan from a conduit lender that met all of the borrower’s terms at a rate of 5.97%. It closed on time."
RealWebFunds Commercial Mortgage is a national commercial mortgage loan broker for real estate projects between $1,000,000 and $20,000,000. 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 recognized RealWebFunds with a Digie Award for being a leader and innovator in the Commercial Real Estate industry.
To learn more about commercial loans from RealWebFunds please visit http://www.realwebfunds.com or call 1-800-930-2394.