BOCA RATON, FL, USA, December 6, 2022 /EINPresswire.com/ — QuickLiquidity, a direct lender for commercial real estate, has announced the closing of a $200,000 second mortgage on a 15-unit apartment building located in Cambridge, OH.
The property is completely stabilized and low leveraged. The borrower wanted additional capital to continue growing their commercial real estate portfolio.
The borrower’s senior mortgage was a fixed-rate loan with a low interest rate. Due to the recent increase in interest rates, it was cost prohibitive for the borrower to do a cash-out refinance into a brand-new senior mortgage at a higher interest rate.
QuickLiquidity offered a quick and cost-efficient solution by leaving the existing first mortgage in place and providing the borrower with a second mortgage on the property. This provided the borrower with a cheaper blended interest rate compared to taking out a new senior mortgage.
This loan was closed without a new appraisal and without any credit score requirements.
“We have found that a lot of commercial real investors are asset rich but cash poor”, says A. Yoni Miller, Principal of QuickLiquidity. “We offer second mortgages, mezzanine financing, and preferred equity to help investors unlock their trapped equity. This provides them with much-needed capital they can use to continue growing their commercial real estate portfolio.”
ABOUT QUICKLIQUIDITY:
QuickLiquidity is a direct lender for commercial real estate nationwide. Helping our borrowers with time-sensitive and complex transactions is at the heart of what we do every day. Our success is not only determined by the returns we generate, but by the relationships we build. Our loan programs include first mortgage bridge loans, second mortgages, mezzanine financing, and providing liquidity to minority interest owners in commercial real estate syndications through either purchasing or lending against their ownership interest. Learn more by visiting https://www.quickliquidity.com.
QuickLiquidity, LLC
QuickLiquidity
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