Friday, September 30, 2016
W Financial Brokers $17 Million mezzanine loan -- Financing at the Speed of New York for a time-of-the-essence acquisition
NEW YORK, NY -- W Financial, a Manhattan-based private bridge lender, has provided a $17,000,000 mezzanine loan collateralized by the borrower’s ownership interests in various cash-flowing multifamily properties located throughout Brooklyn and Long Island.
The borrower is a successful local real estate investor who was scheduled to close on a time-sensitive acquisition and required the funds in order to close on time.
W Financial was able to offer a creative solution to quickly free up some of the borrower’s equity providing the liquidity he needed to close on his time-of-the-essence acquisition.
The borrower plans to repay the W Financial loan by either selling or refinancing a portion of his portfolio.
W Financial will also consider providing re-hab and construction loans for experienced developers, as well as mezzanine financing on well-located, cash-flowing properties. We will consider providing joint venture equity on cash-flowing properties on a case-by-case basis.
Call me to discuss or contact my partner David Heiden | email@example.com (212) 684-8484, or contact our Senior Loan Officer Jarret Schochet | firstname.lastname@example.org (212) 684-2205 to discuss your new bridge loan scenarios.
For a complete copy of the company’s news release, please contact:
Gregg Winter - Founder & Managing Partner
W Financial Fund, LP
Special Situation Financing for Commercial Real Estate ®
149 Madison Avenue, Seventh floor
New York, NY 10016
Phone: 212 532-9170