Boca Raton, FL, May 17, 2023: QuickLiquidity, a direct lender for commercial real estate, has announced the closing of a $150,000 second mortgage bridge loan. The loan was secured by an investment single family home in Orlando, FL.
The borrower’s senior mortgage was a fixed-rate loan with a low interest rate of 4.5%. 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 much 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.
QuickLiquidity closed this loan in only 2 weeks, all without an appraisal. This allowed the borrower to access the liquidity he needed to close on his new acquisition.
“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."
Have questions regarding subordinated debt? Give us a call right now at 561-221-0881.
