THE CLIENT

On a corner in Long Island, New York, there’s a deli that’s famous for its smoothies and sandwiches. But the owner is making more than burgers and grilled cheese, he’s making investments in local properties and building a real estate portfolio.

The owner operates the deli in one of the mixed-use properties he currently owns, and his property management company leases the other units as rental income investments. He also owns another mixed-use property around the corner. The two properties were excellent investments… except that the bridge loan he had on one of the properties was about to expire.

THE CLIENT’S CHALLENGE

One owner, two mixed-use properties – one with four units, one with eight, both split evenly between commercial and residential units – with a bridge loan about to come due. A unique seller financing situation, to say the least.

The owner had to secure funding quickly to pay off the bridge loan and needed a blanket loan for the two properties. Very few, if any, traditional lenders would even consider a commercial loan like this. The owner had to find a flexible lender that offered blanket loans and could process and close the loan quickly.

THE APEX COMMERCIAL CAPITAL SOLUTION

$1.5 Million • Mixed-Use Mortgage Refinance • Blanket Loan

Because of the unique nature of the loan, the borrower’s broker strongly recommended Apex Commercial Capital. While traditional lenders won’t consider blanket financing for two mixed-use properties, Apex Commercial Capital is highly regarded for being exceptionally flexible in reviewing and approving commercial loans.

The loan process at Apex Commercial Capital is built on the understanding that each individual borrower is more than a credit score. All the relevant financial information is taken into consideration when reviewing a loan request, looking beyond the numbers to understand each business owner's specific situation.

Apex Commercial Capital also has streamlined processing so complicated loans, like this one, can be closed faster and with less documentation than a traditional lender would require.

Apex Commercial Capital provided funding to pay off the bridge loan and approved a blanket loan for the two properties. Refinancing into a fixed-rate, long-term loan also gave the owner more predictable monthly payments.

FINAL RESULTS

Working with Apex Commercial Capital, the property owner paid off the bridge loan before it expired and secured a loan to match his unique financial situation. The new, fixed-rate commercial mortgage gives the borrower consistent monthly payments over the life of the loan, as well as long-term financial security and peace of mind.

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