Experienced condo converter had sold out the majority of the project when the market started to slow. At the same time his construction note was coming due. Rather than a potential problem scenario, this good credit borrower who had a ton of his own cash in the deal was the perfect SFG borrower. With a low cost basis per unit and a great location, we were able to not only refinance his note but provide cash-out and an interest reserve for additional marketing time.
Seattle Funding Group, Ltd
1239 120th Ave. NE, Suite J
Bellevue, WA 98005 T 425.455.1733 F 425.454.7655
1.888.SFG.FUND info@sfgfunds.com
Seattle Funding Group of California
4711 Viewridge Ave., Ste. 270
San Diego, CA 92123 T 858.751.0556 F858.560.0529