Delray Beach, FL, Oct 29, 2019: QuickLiquidity has announced that it has closed a $1 million loan secured by an illiquid and non-controlling 30% ownership interest in a Delaware Statutory Trust (DST) that owns a 189-unit multifamily property located in a suburb of Columbus, OH.
In 2017 the borrower had invested $2.9 million into a commercial real estate syndication that was purchasing a 95% occupied 189-unit multifamily property. Ever since then the borrower has been receiving monthly disbursements and has been a happy passive investor. However, when the borrower needed to quickly access $1 million in order to take advantage of a time sensitive business opportunity, they found themselves in a bind. Despite having invested $2.9 million into the syndication only two years prior, because their ownership interest was illiquid and non-controlling, they could not find any lender willing to provide them with a loan until they were introduced to QuickLiquidity.
Formed in 2015, QuickLiquidity has built a reputation for being the industry leader in providing liquidity to LLC interest, LP interest, TIC interest, and DST interest owners in commercial real estate partnerships through either purchasing or lending against their illiquid and non-controlling ownership interests. When life presents unpredictable situations and liquidity is needed, these investors can turn to QuickLiquidity to monetize their trapped equity.
"Helping our borrowers with time-sensitive and complex transactions is at the heart of what we do every day. Our success is not only determined by the returns we generate, but by the relationships we build.” said A. Yoni Miller, Principal of QuickLiquidity.
The borrower received a term sheet from QuickLiquidity within only days of submitting their loan request. It then took only a few weeks from when the term sheet was fully executed for the loan to be documented and closed. QuickLiquidity worked with the borrower to ensure the loan was done in full compliance of the first mortgage loan documents and the DSTs trust agreement. By working with QuickLiquidity, the borrower was able to receive the capital they needed in the time frame they needed, all while maintaining complete ownership and control of their interest.
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