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We are currently looking to refinance a 16,000 SF office/warehouse

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project built in 2008 in...
We are currently looking to refinance a 16,000 SF office/warehouse project built in 2008 in Birmingham, AL. At completion, the property appraised at $2.7MM. The current principal balance is $2.1MM. The single tenant property is under lease with a 7-year term; with 4-years remaining. Gross annual revenue totals $250K. We developed the property with 100% financing backed with a pledge of AAA securities valued at $900K (now valued at $1.4MM). Not sure where a current appraisal would come in and whether we have any equity in the property, we are again looking for a lendor that would accept a pledge to get the LTV into balance. It seems that only a handful of community banks are interested in such a deal. Is there a larger universe of lenders specializing in such mortgages while still offering competative rates?
Submitted: 4 years ago.Category: Finance
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Answered in 8 minutes by:
11/14/2013
Financial Professional: Megan C, Certified Public Accountant (CPA) replied 4 years ago
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16,581
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Megan C :

Thank you for your question. My name is Megan and I will be happy to assist today

Megan C :

How are you doing?

Megan C :

Basically, you are going to look for a lender that specializes in commercial mortgages. I've come up with a list of a few such lenders that you may want to consider

Megan C :

http://www.arbor.com/

Megan C :

Here's a portal where you apply and then are given a list of lenders to match your situation http://www.c-loans.com/

Megan C :

Your best bet would be to go to the site that I gave you in my last response. That will put you in touch with a prospective 750 lenders.

Megan C :

You could also go to the major banks, such as Bank of America, Wells Fargo, etc

Megan C :

Is there anything else I can assist you with today?

Megan C :

If nothing else. please rate as positive so that I may receive credit for assisting you today

JACUSTOMER-zyrphy8p- :

Megan,

Megan C :

Yes?

JACUSTOMER-zyrphy8p- :

arbor looks as though they specialize in multi-family. I am familiar with c-loans and was hoping for a bit more insight. As mentioned in my initial questions, the large banks have no interest.

Megan C :

Let me look and see if there are any more lenders I could find, but for the most part it's going to be very hard to find a lender willing to specialize in this type of loan

Megan C :

Here's a list of commercial lenders:

Megan C :
  • 24 Capital
  • A10 Capital
  • Academy Mortgage Corporation
  • ACG Companies
  • Acupen Financial, LLC
  • Advance Commercial Finance, LLC
  • AG Commercial Capital
  • AJFC Group
  • Alison Mortgage
  • All Lending Source, LLC
  • All Western Mortgage
  • Alliance loan inc
  • Allied Mortgage & Financial Corp.
  • Allison Mortgage Loan Servicing Corp
  • ALTERNATIVE FUNDING SOURCES
  • American Business Lending
  • American Capital Holdings, LLC
  • American Eagle Mortgage
  • American Mortgage Network LLC
  • American Savings Life Ins Co
  • American Trust & Savings Bank
  • AMR Investment Group, LLC.
  • Approved Capital
  • Arbor Commercial Mortgage
  • Argo Equities
  • ARI Holdings LLC
  • Atlantic International Funding Group, Inc
  • Avatar Financial Group
  • Axiom Commercial Funding Solutions
  • Bank of Denver
  • Bankers Capital Network
  • Baytree Funding Capital Markets, Inc
  • BEDFORD LENDING WEST
  • BJW Capital, LLC
  • Bloomfield Capital Partners, LLC
  • Borrego Springs Bank
  • BOWMAN FINANCE
  • Brighton Roth Financial
  • Brownstone Mortgage capital
  • Business Lenders LLC
  • California Mortgage & Realty, Inc.
  • CapCorp Financial
  • Capital Development, LLC
  • Capital1Alliance
  • CapWest Commercial Lending
  • Cartley Capital Funding
  • Cascade Financial
  • cathouse lending
  • CCFllc
  • Centennial Bank
  • CFA Capital Partners
  • CFI - Roswelll
  • CFR Mortgage Group, Inc.
  • Charger Funding
  • CitySide Capital Partners
  • CLS Mortgage
  • CMT Mortgage
  • Coast Investors Capital
  • Comerica Bank
  • Commercial Capital Alliance
  • Commercial Capital Funding
  • Commercial CaptialBanc
  • Commercial Direct
  • Commercial Lenders
  • Commercial Loans R Us, LLC
  • Commercial Mortgage Solutions
  • Commercial Mortgage System, LLC
  • Community South Bank
  • Complete Lending and Investments LLC
  • Coppercrest Funding LLC
  • CPS
  • Creative Financial Services Of Tampa bay inc
  • Cushman & Wakefield
  • Destiny Capital Corporation
  • Dincom, Inc.
  • Direct Commercial Capital
  • Ducat Funding
  • East Coast Commercial Finance
  • EH National Bank
  • Emigrant Funding Corp.
  • Empire National Bank
  • Epic Mortgage & Fund
  • Equitable Commercial Lender
  • Equity Consulting Services LLC.
  • Equity One SBC
  • Evergreen Home Loan Company
  • EverTrust Bank
  • Excel National Bank
  • Fairfield Financial Services, Inc
  • Fairway Commercial
  • Fast Funding
  • FedFirst Commercial Capital
  • Financial Consulting Group
  • Firma Capital Management
  • First Business Bank
  • First Capital Business Solutions
  • First Choice Funding
  • First City Group
  • First Financial Equities Commercial
  • First Mount Vernon
  • FNBL
  • Fromm Group Inc.
  • FundingSource LLC
  • FutureGen Capital
  • Gauntlet Capital
  • Gauntlet Commercial Real Estate Capital
  • Genesis Funding Source
  • GLOBAL FINANCE COMPANY
  • Goldmine Private Loan Company
  • GP Enterprises, LLC
  • Great Southwest Commercial Lending
  • GreenLake Fund
  • Gulf Coast Mortgage
  • Hard Money King
  • Hard Money King.com
  • Hard Money NYC
  • Harris & Associates of New York Inc
  • Harris And Associates of New York
  • Highland Financial
  • HSBC Bank USA
  • Huntington Bank
Megan C :
  • Hyde Park Capital Group
  • Integrity Financial Group
  • Interbay Funding
  • Intervest
  • Investment Enterprises
  • Investment Global Accredited
  • Investors Capital
  • Investors Funding LLC
  • Johnson Capital Huntoon Hastings
  • Kendall Realty Advisors
  • Kennedy Funding
  • KSI Capital Corp.
  • La Jolla Loans
  • Lakeside Community Bank
  • LandRock Funding, LLC
  • Legacy Investment Partners Inc.
  • Lehman Brothers Small Business Finance
  • Lenders Depot Inc.
  • LendingBrook.com
  • Lewis Financial Services
  • LEX Capital Group
  • Lil' Wave Financial, Inc.
  • LNB Commercial Capital
  • Lone Oak Fund LLC
  • Lone Oak Fund, LLC
  • Madison Realty Capital
  • MainStreet Lender
  • Maverick Structures LLC
  • MEGA FINANCIAL SERVICES
  • Michael Wemimo Agency
  • Money Resource Corp
  • Mortgage Authority, Inc.
  • Mortgage Equities, Inc.
  • Mortgage Loan Solutions
  • Murat Lenders
  • N2 Realty Capital
  • Naples Income Fund
  • New Millennium Bank
  • New World Commercial Lender
  • Newbridge Investments
  • Newcastle Financial Company
  • NLD Settlement Corp
  • NNB WORLD, INC.
  • Northwest Investment Specialists
  • Obduro Capital LLC
  • Ocean Capital
  • Old Hickory Credit Union
  • Olympic Coast Investment, Inc.
  • Owens Financial Group
  • Pacific Coast Capital
  • Pacific Coast Mortgage, Inc.
  • Pacific Private Money and Financial Services
  • Pacific Western Bank
  • Paradigm Mortgage Inc
  • PB FINANCIAL GROUP INC.
  • philip investments
  • Phoenix Capital Funding Group
  • Pinecrest National Funding, LLC
  • Pinnacle Bank
  • Platinum Star Financial Corp
  • Popular Commercial Capital Inc.
  • Porter Capital Corporation
  • PrivateMoneyBank.com, LLC
  • Prodigious Capital Funding,
  • Proficio Bank
  • Provident Bank
  • Radclift Capital Mortgage
  • Real Estate Capital Company
  • Regions Financial (Regions Bank)
  • Revere Capital
  • Ritch and Associates
  • RKU Capital LLC
  • RLE Equity Management
  • RNB Capital, LLC
  • Rockland Commercial, Inc.
  • Security National Capital
  • Security National Mortgage Corp.
  • Security Pacific Bank
  • SHALLCROSS MORTGAGE CO
  • Silo Financial Corp
  • Silver Star Commercial Capital, LLC
  • Silvergate Bank
  • SOLID FINANCE COMPANY
  • SOUND TRUST FINANCE COMPANY
  • South End Capital
  • St. Cloud mortgage
  • Sterling Commercial Capital LLC
  • Success Capital
  • Tactical Lending Solutions
  • Tavernier Capital Funding, LLC.
  • TCRM Commercial Corp.
  • The Fontis Group, LLC.
  • THE VENTURE CAPITAL GROUP
  • Thomas D Wood and Company
  • Top Ten Holdings, LLC
  • Tradeway
  • UC Funding
  • Unique Capital, LLC
  • United Bank
  • United First Funding Group
  • United Texas Bank
  • United Western Bank
  • Universal Business
  • UPS Capital
  • US Bank
  • USA Mortgage Funding
  • ValueXpress, LLC
  • Vanguard Financial
  • Velocity Commercial Capital
  • Veritas Commercial Finance, LLC
  • Vista Commercial Lender
  • Washington Mutual
  • Wells Fargo Bank
  • Whitlock Capital Group
  • Widespan Capital
  • Windsor Financial
  • Wiseman Capital Group
  • Wohl Group LLC
  • Worth Capital, LLC
  • Your Neighborhood Mortgage
  • Zions National Real Estate
Megan C :

Is there anything else I can assist you with?

Megan C :

Have I provided you with excellent service today?

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