100 per cent commercial financing fstructured for apartment complex in Boston, MA
Released on = May 28, 2006, 6:10 am
Press Release Author = Jen Peterson/400Bankers.com
Industry = Real Estate
Press Release Summary = 400Bankers.com structures 100% commercial financing for apartment complex in Boston, MA.
Press Release Body = May 27, 2006 -- Barbara Owen, a mortgage broker with 400Bankers.com network, has announced that she recently closed $12,800,000 in commercial mortgage financing for the apartment complex in Boston, MA. The building, built in 1986, has been immaculately maintained and is home to many doctors of the General Hospital.
The 19,700 square foot building is leased by 17 tenants. The landlord, John Rogers, was looking for a fixed interest only rate commercial mortgage with 10 year term. He was able to get 100% financing through 400Bankers.com network with the assistance of a CD secured loan.
The borrower has received a 6.5% interest only loan at a 10 year term with no prepayment penalty. The apartment complex was appraised below the purchase price but because of the CD secured loan he was able to get the property with less money down.
About 400Bankers.Com 400Bankers.com (http://www.400bankers.com ) is a national and international commercial mortgage loan bankers network for real estate projects between $200,000 and $10,000,000,000. 400Bankers.com has over four hundred lenders and private investors in it's network. The network consists of Web Site = http://www.400bankers.com
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