Category Archives: Transactions

agence de rencontre femme ukraine recent closing news for Eleanor Financial

Eleanor Financial Inc. Arranges Financing for Villa Nueva aka Avery Park Gulf Bank Freeway

site de rencontre 08 Eleanor Financial Inc. Arranges Financing for Villa Nueva aka Avery Park Gulf Bank Freeway
Houston, Texas
We recently completed financing for our clients to acquire this 540 Unit Class “D” (borderline F)
Multi-Family Project in Houston, Texas
This property had many issues.
We worked closely with the Listing Broker over several years assisting him with vetting one potential buyer after another.
Since funded several properties in the area, we knew the market and understood area trends/demographics.
He finally located a “real” buyer.
When the new prospective buyer executed the PSA –
They didn’t listen to the listing broker who encouraged them to call us first!
Instead the new sponsor went to several “pretend lenders” –
They wasted several months and over $50,000 in up-front fees with no success.
To prevent these unfortunate circumstances, we educate our borrowers don’t go through the loan process alone.
It’s like going to court without an attorney!
It’s our full time job to screen who are the real lenders and who’s not.
When we received the “911” call, the transaction was crumbling-
Earnest money had gone hard, and the holidays were upon us.
We went work immediately!
There were numerous obstacles to overcome –
Being 20 year veterans in the lending business, our firm was able to present not only the positives of the loan but the negatives head on –
It’s imperative to be up-front with all investors and sponsors.
They’ll find out anyway –
Surprises just slows down the process.
The new sponsor had successfully performed on another asset – bringing a 40% occupancy property to 80% in 9 short months – but half the size of Avery Park.
Fires fires and more fires on the property –
Reasonable Insurance was going to be almost impossible to obtain.
A Fire safety plan had to be in place –
The property had a Condemnation issue which would need to be addressed with the lender and clear title–
When? How many buildings potentially could be affected?
The property’s low occupancy and extensive rehab was another one.
Avery Park’s reputation was going to be the biggest hurdle to overcome.
There was a Triple murder in the parking lot, and the article was located on the first page of google.
Rebranding was not going to be enough –
Through our direction, a complete safety plan was put in place –with on-site security, gates, LED lights and a crime prevention plan working in conjunction with Houston Police Department
The lender a little more comfortable with executing a loan
Still it was going to be tricky –
The area and demographics were very rough.
Other questions –
Why didn’t the other bridge lenders do the loan?
How come NO one had purchased the property over the last several years?
Our experience working with several other area properties allowed us to confidentially educate the lender –
Avery’s location was perfect for the working mothers/families -close to the bus line and job opportunities for potential tenants.
Across the street from a great school for children with needs.
In order, to obtain desirable family oriented tenants, a new screening process would need to be implemented.
The tighten security would ensure the safety to the tenants and deter future crime in the complex.
Playgrounds for children.
Avery Park’s occupancy had improved in the last 6 months.
Even though Houston is a growth market, this property would require “hands on” attention to reposition it.
We had lengthy discussions with the lender regarding the pros and cons.
We demonstrated how the property’s occupancy and revenues were increasing “As Is” without any strong management or necessary improvements.
Values in the area are trending upwards.
Not to mention Avery Park was the last true “value add” property in Houston.
Other important questions popped up during the loan process.
What about the exit?
How long?
We outlined to our lender and sponsor a clear and concise refinance timeline and conventional proposal for the exit strategy.
We made the investor– as they put it “sleep better at night.”
We’re delighted to have been a part of increasing our very happy sponsor’s Real Estate portfolio!

http://josiart.at/rete/3509 Acquisition
$8,800,000Loan Amount
Net funded – price, points, interest reserve, taxes, insurance and capital improvements
2.5% Points
0.75% Interest Only
12 Months
2 – 6 month Renewals
88% LTC
77.5% Stabilized
Partial Recourse
Eleanor Financial prides itself in delivering new and innovative lending programs.
We provide both permanent and bridge financing solutions for all types of commercial assets nationwide including many non-recourse options available
through our many Life/ CMBS/ Institutional /REIT/Private Equity lenders with flexible terms up to 80% leverage in some markets.
If you need a quick close and/or in a distressed situation, we have the solution available through one of our many bridge lending programs.
You will never experience the horrors of a commitment not being honored with our team.
We never charge any upfront fees.
Unlike other lending groups we offer quick and reliable feedback to all our clients with competitive rates and successful closings.
We’re excited to be the exclusive facilitators for several new and old investors entering into the commercial lending market.
Our Company remains the most adaptable and capable in the industry to guide our borrowers through the ‘New Normalcy.”
We welcome any inquiries regarding your proposed commercial real estate financing needs
Call or email us with any questions.
Our team is here to assist you,
We make the impossible … possible

strattera online no prescription Kimberly Kirk
President
Eleanor Financial, INC.
Toll Free: 866-732-5626 Cell: 713-858-5556
FAX: 866-941-4655
kkirk@eleanorfinancial.com
www.eleanorfinancial.com

Uvalde Boerne Seguin Schertz Bandera New Braunfels

exemple 1er message pour site de rencontre IMG_0235

fille tcheque rencontre  

rencontre rime Recent Commercial Loan Closing:
Debt Restructure, Cash- Out and Ground-up loan for a South Texas Developer for State of Texas Agency buildings located in the following:
• Boerne
• Uvalde
• New Braunfels
• Bandera
• Seguin
• Schertz
This particular South Developer’s loan request had numerous moving parts with a short time fuse. The staggered leases, ballooning notes with a bridge, conventional and construction lenders had various unrecorded and recorded equity investors liens, back taxes, and needed fresh capital for two ground-up developments – Seguin and Schertz proved to be a challenge as well; Tertiary markets in MSA’s with populations fewer than 50,000. This developer had extensive experience but suffered from low liquidity and a poor global scope. Through our extensive network of capital providers, we located a relationship driven lender who paid off three lenders and consolidated the loans which now have a lower interest rate, longer term and amortization. The improved global scope and liquidity strengthened the borrower profile making the lender even more comfortable with the loan. The lender even provided cash-out which the developer utilized the funds to inject in his new projects located in Seguin and Schertz. Since the leases are fixed, we demonstrated the safety of the new construction loan which upon c/o would have set guaranteed income by the State of Texas. Although the State Agency leases have “kick-out” clauses, we were able to ease lender concerns the state was unlikely to leave; county seats and time/historical occupancy and the current market rental demand is strong enough to support possible re-tenanting if the state did leave.
The loan terms were as follows:• 80% LTC/ LTV
• 5 Year Term
• 20 Year Amortization
• 4.95%
• Full Recourse
• Prepayment Penalty 3-2-1

http://www.hardrockchick.com/volovic/vovkadyrak/7099 Eleanor Financial prides itself in delivering new and innovative lending programs.

jeder mann sucht eine frau We provide both permanent and bridge financing solutions for all types of commercial assets nationwide including many non-recourse options available through lending partners with flexible terms up to 80% leverages- 10 year terms- amortized over 25-30 years–– even Hospitality and Cash- Out !
If you need a quick close or in a distressed situation, we have the solution available through our private equity program. You will never experience the horrors of a commitment not being honored with our team. We never charge any upfront fees. Unlike other lending groups, we offer quick and reliable feedback to all our clients with competitive rates and successful closings. We’re excited to be the exclusive facilitators for several new and old investors entering into the commercial lending market. Our Company remains the most adaptable and capable in the industry to guide our borrowers through the ‘New Normalcy.” We welcome any inquiries regarding your proposed commercial real estate financing needs. Call or email us with any questions.
Our team is here to assist you!

scientific dating methods accuracy We make the impossible … possible
Kimberly Kirk
President
Eleanor Financial, INC.
Toll Free: 866-732-5626 Cell: 713-858-5556
FAX: 866-941-4655
kkirk@eleanorfinancial.com
www.eleanorfinancial.com