Delray Beach, FL, Oct 8, 2020: QuickLiquidity, a direct lender for commercial real estate, has announced the closing of a $600,000 first mortgage bridge loan. The loan was secured by single tenant office building in East St Louis, IL and closed in only five days.
The property is around 25,000 square feet and is currently 100% occupied by the State of Illinois. It is being used as a community resource center to provide a range of services, including assistance to the aged, blind, and disabled.
The borrower owned the property free and clear and was looking to quickly pull cash out. She needed the money in order to pay off past due real estate taxes on other properties in her commercial real estate portfolio.
It took only 5 days for the loan to be documented and closed. There were no credit score requirements and there was no appraisal required.
“The commercial real estate bridge loan space is incredibly competitive. So why do brokers and borrowers continuously choose to work with us?” asked A. Yoni Miller, Principal of QuickLiquidity. “It’s because we have a proven track record of closing time-sensitive transactions. We let our borrowers tell us what matters the most to them and then we create a customized loan to meet their needs. We care about what they care about.”
Have questions or a potential loan request? Give us a call right now at 561-221-0881.
