Fast Close Saves A Deal
Property Location:
Plano, TX
Property Type:
Retail
Loan Amount:
$3.9 million
Loan Purpose:
Quick Close Needed for Acquisition of Retail Center
Situation:
Brookview funded a $3.9mm bridge loan on a 11,919 sq. ft. retail center in Plano Texas. This was a CMBS deal that fell apart at the last minute due to the discovery of unexpected tenant improvement obligations. The borrower’s purchase deposit went hard, and he needed an urgent close and a creative solution for the tenant improvements situation.Why Brookview: Speed, Reliability, Creativity and Flexibility! This deal came to us just before the Christmas holiday. We were able to figure out the deal quickly, come up with a solution for the tenant improvement problem and still close in 10 business days.
Brookview is a boutique private lender, backed by over $10 billion in discretionary capital. We have the experience, creativity and flexibility to quickly figure out solutions to challenging deals, and a non-bureaucratic approval process. Brokers and borrowers often come to us when other lenders were not able to provide a solution.