Philadelphia, PA (PRWEB) June 29, 2007
Stursberg & Fine closed a $32,000,000 loan transaction for one of its clients today.
Complete with outstanding rates, terms and conditions, Stursberg & Fine provided their client with 5 years of interest only, on a 10 year fixed term, 30 year amortization in very tight conservative CMBS market.
As a result, the owners of this property will now be able to expand their mobile home park to generate greater cash flow while simultaneously providing affordable living with stunning ocean views for northern California residents.
This effort was the result of the expertise provided by Stursberg & Fine to the Borrower that resulted in the transaction generating $12,000,000 cash out. Stursberg & Fine spearheaded the first mortgage back in March of 2003. After the closing the borrower said, "… we are more than delighted with the terms and results provided by Stursberg & Fine. We thank everyone for the hard work, direction and determination, especially provided by Stursberg & Fine. With the property's ideal location on the Pacific Coast, we are certain this transaction will be profitable in the long run and keep residents happy for years to come." In securitizations of CMBS loans, this transaction was one of the largest mobile home parks so well received and regarded in 2007.
About Stursberg & Fine
Stursberg & Fine is a privately held investment banking firm specializing in serving commercial real estate and business loan facilities. We are a direct lender with a unique specialization and excellent reputation in the CMBS market. The firm also, on a selective basis, underwrites and originates private equity and venture capital transactions for new and emerging companies. For more information about Stursberg & Fine, please visit us online at http://www.stursbergfine.com