VARIOUS LOCATIONS, TX - Helvetica Group worked with broker Marcus & Millichap to provide purchase financing for the acquisition of a 3 store, Dollar General NNN portfolio. This bridge loan helped their client meet a 1031 exchange, hard closing date and avoid a large tax liability. The loan was for 12 months and did not have a prepayment penalty.
Despite some temporary credit challenges, Helvetica was able to fund this loan in the middle of the COVID pandemic while banks and institutions were temporarily closed to new funding.
SAN FRANCISCO, CA - The Helvetica Group, originated a cash out loan for a recently completed construction of a new multifamily property that was rented with short-term, AirBnb tenants. The borrower was previously turned down by 3 banks. Helvetica worked with a broker to source a three-year, fixed-rate loan at 5.35%. The borrower was given an interest-only option for the first two years to help with early cash flow and to support a strategy to sell the property within 3 years. The loan was underwritten using higher AirBnb rents and with limited seasoning.
The complex nature of the multi-family property being used for AirBnB rentals, the need for a quick close, and limited seasoning prevented this borrower from obtaining a bank loan.
PACIFIC GROVE, CA - The Helvetica Group, originated a cash out loan secured by mixed collateral including real estate and chattel to enable the borrower to pay for tenant improvements required for a new lease. The collateral included a lien on the ownership interests in a newly renovated building in Pacific Grove that was adapted from an old iconic department store known as the Holman Building, to new luxury ocean view condos. The loan was also secured by ownership interests in an industrial building located in Oakland, CA across from the Colosseum. In addition, the loan was secured by a junior trust deed on an office building in San Diego, CA.
The complex nature of the mixed collateral, the need for a quick close, the lack of income documentation and vacancy, prevented this borrower from obtaining a bank loan.
BALTIMORE, MD - Jaden Jeter with The Helvetica Group, originated a refinance loan secured by an office building in downtown Baltimore, MD just one short block from the courthouse. The borrower will use the loan to pay off current debt and provide a bridge to a construction loan to re-purpose the building as mixed use, including retail, hospitality, and office. High vacancy, short term leases, and time constraints prevented the borrower from obtaining a bank loan.
SAN DIEGO, CA - Helvetica funded a $3,380,000 purchase loan secured by an office building in San Diego, CA. The property was occupied by a licensed cannabis dispensary. The borrower was a multi-state cannabis operator soon to be listed on the Canadian Stock Exchange. A complicated corporate structure, large net losses, and cannabis dispensary use prevented this borrower from obtaining bank financing.
NORTH BEND, WA - Helvetica funded a $1,100,000 bridge loan secured by a strip retail center in North Bend, WA. The borrower needed a quick close to payoff a matured loan and get cash out to pay for improvements on another property owned. The property was 100% occupied. Excessive bank paperwork, prepayment limitations and time constraints prevented the borrower from obtaining a conventional loan.
NORWALK, CT - Helvetica funded a $2,400,000 bridge loan secured by a luxury single family home, in a private coastal community in Norwalk, CT. The borrower needed a quick close to payoff a defaulted loan and get cash out to pay for recent renovation expenses. The property was vacant and listed for sale. Inconsistent income, a loan default, poor credit and vacancy prevented this borrower from getting bank financing.
FT LAUDERDALE, FL - Helvetica was approached by a broker in search of a 50% LTV bridge loan for their client, who needed a quick close on a cash out refinance. The borrower owned a light industrial property in Fort Lauderdale, FL that was owner occupied and owned free and clear . The borrower was the victim of recent identity theft creating chaos in his personal and business finances and resulting in a very low poor credit score. Banks were unwilling to lend.
HANFORD , CA - Helvetica funded a $3,200,000 bridge loan on a three unit, vacant, big box, retail building in Hanford, California. The latest transaction to grace the Helvetica closing table was a cash out refinance, brought to us courtesy of a local commercial mortgage broker. The broker partner contacted Helvetica, on behalf of his client, who was seeking to refinance their existing debt that had recently matured as well as obtain cash out to perform tenant improvements and pay for leasing commissions.
SEATTLE, WA - Helvetica funded an $850,000 broker originated bridge loan to refinance a retail strip center in outside of Seattle. The borrower was in need of a cash out refinance to pay off maturing debt and make property improvements. The borrower had limited documentation but decades of real estate ownership experience. Since the property had substantial equity, Helvetica was able to provide enough cash out for the borrower to make property improvements and reposition the asset for sale. Through great coordination with the loan broker, Helvetica quickly closed another low leverage bridge loan on a value add property. .