At Stronghill Capital, we are a national leader in small-balance commercial real estate lending. Property types we finance including commercial, multifamily, mixed-use, and investor residential. Our broker clients know they can depend on our quick, results-oriented process to move their borrowers’ financial goals forward.
Take this Stronghill Spotlight, for instance.
This $1,150,000 rate & term refinance of a quick service restaurant in Portland, Maine, recently closed. The subject property is occupied by a national credit tenant, but certain provisions of the lease caused other lenders to say no. Stronghill was able to structure with a 5-year term, 30-year amortization and a fixed interest rate of 6.75%. The proceeds of the loan were used to pay off the borrower’s existing and maturing mortgage.
Deal Highlights
- Loan Type – Rate & Term
- Property Type – Special Purpose/Quick Service Restaurant
- Loan Amount – $1,150,000
- Fixed Interest Rate – 6.75%
- Term – 5-years
- Amortization – 30-years
- LTV – 48%
- DSCR – 1.10x
- Debt Yield – 8.6%
- Broker Payout – $11,500.
Strong sponsorship and long-term asset ownership allowed Stronghill to overcome concerns and provide the borrower with a long-term financial solution.
At Stronghill Capital, we always act in the best interest of our brokers’ and their borrowers. Learn more about “The Stronghill Advantage” and see how we can help you close more loans by contacting one of our originators today.
