$1.1MM COMMERCIAL MORTGAGE
We are pleased to announce the closing of a $1.1MM Commercial Mortgage to provide permanent financing for the "Mixed use" component of a for-Sale Housing project.
Beachrock has procured a 10 year commercial mortgage collateralized by owner-occupied office, and a ground floor retail space. Beachrock was able to source a bank lender that was willing to consider making the loan despite COVID concerns related to the tenant's intention to operate an cream parlor. We were able to educate the lender, and allow them to understand that similar establishments in the immediate area had actually INCREASED receipts during COVID restrictions. Due to this, the Borrower was able to get an exceptional rate and advance.
BEACHROCK THANKS EVERYONE INVOLVED IN THIS TRANSACTION!