THE CLIENT

Location. Location. Location. It’s widely accepted in business that location is crucial. Of course, sometimes acquiring the right location requires getting to the right loan, at the right rate, at the right time – especially when you’re in the fashion business in New York City.

This retail clothing distributor had been in business for over ten years, importing and distributing clothing to multiple retailers. Their business depended on having the necessary space to store, sort, sell, and distribute – and while business was good, their location needed to be better. They needed to move fast when they found the location they wanted in the New York area.

THE CLIENTS’ CHALLENGE

Like many borrowers, the business owner had three goals when considering mortgage options to purchase the new property. First, they needed a lender familiar with the retail/warehouse loan type they needed. Next, but just as important, they were extremely rate motivated. They had carefully reviewed the numbers and they knew where they had to land. And third, they had a short window to get the deal done and were looking for the speed and simplicity of a lower-doc option. After talking with a broker, they had two possible lenders – and they chose Apex Commercial Capital.

THE APEX COMMERCIAL CAPITAL SOLUTION

$810,000 • Retail/Warehouse Property Purchase

Apex Commercial Capital met all three of the business owner’s goals. They had the experience the borrower required, having worked with numerous retail/warehouse clients. Apex Commercial Capital offered a lower rate than the other lender the borrower considered – and could lower the payment even more when the borrower agreed to pay a higher down payment and take a lower LTV.

The borrower’s broker knew that Apex Commercial Capital could provide a lower-doc option and streamline approval, simplifying the process and speeding up closing. The biggest factor for the borrower was that Apex Commercial Capital was able to provide the borrower with the commitment documentation to show the seller that they had all the financing needed to purchase the building – even before the appraisal was finalized. In the end, the loan was closed in the borrower’s tight timeframe.

FINAL RESULTS

With the mortgage from Apex Commercial Capital, the borrower purchased the new property and relocated their business. The borrower was able to buy the property they wanted at the affordable rate they required and within the short timeframe allotted. Now the business can now plan their financial future with a consistent monthly payment and without worrying about lease renewals or increases in rent.

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