KALAMAZOO, MI - Helvetica funded a $1,172,000 bridge loan for the purchase of an office building in Kalamazoo, MI. The sponsors are seasoned real estate investors who identified a below market, value-add opportunity to purchase the building at well below replacement cost. The property was 100% occupied by a credit tenant and had been institutionally managed since it's initial construction 15 years ago. The lease was expiring in less than a year and the tenant planned to vacate the building upon expiration.
Once the lease expired the sponsor planned to re-tenant the building and stabilize the asset for a sale or permanent refinance. Due to the short term remaining on the lease the property was not eligible for traditional bank financing. Helvetica was able to step in and quickly close on the purchase loan. The sponsors' experience and excellent history of acquiring and managing value-add assets gives Helvetica great confidence they will be able to execute their plan.
Deal Highlights:
- Quick Close
- Office
- Insufficient DSC
- Bank Turndown
- Purchase Loan
- Vacant, Unstabilized
- Seasoned Borrower
Helvetica offers a wide range of loan products for commercial and investment properties. We provide common sense underwriting and creative financing options. Contact us today for a quick close without the hassle of traditional bank financing.
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About Helvetica
The Helvetica Group is a a real estate investment bank and family office providing innovative private lending, distressed asset acquisitions, brokerage, investment management and family office services. Helvetica aggregates investor capital in pursuit of greater alpha by targeting diligently underwritten, alternative investments secured by real estate assets. Helvetica is a direct lender and invests on behalf of individual investors, trusts, pension plans, retirement funds and institutional investors. We work closely with brokers, bankers, lenders and financial advisors as strategic partners to provide clients with fast access to financing, affording them the opportunity to quickly leverage their real estate assets. The Helvetica Group and its affiliates provide alternative financing secured by a variety of property types including: residential, retail, office, apartments, storage, RV parks, mobile home parks, light industrial, mixed use and other special use properties.
