Updated almost 15 years ago on . Most recent reply
Investor in Commercial Property FL (Performing Note)
Hi, I work closely with a large bank and am selling a performing-note. It is for 6 large commercial properties located in Hialeah Gardens, FL.
The total loan amount is $15,899,574.79.
Rate is 5.95% and will continue until 3/5/15
The bank is looking to sell for 74-75% of the loan amount ($11,924,681.09). The loan matures in less than 4 years (3/15/15).
This is a performing note and is secured by a 1st mortgage. In addition, the loan is also collateralized with several escrow accounts. Furthermore, there are 5 guarantors in this transaction with combined liquidity of $4MM
The bank is ready to close within 2 weeks time
Please feel free to contact me with any questions, Thanks