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Sample Loans |
| SEATTLE WA |
| Description: |
Commercial Property encompassing two buildings with a variety of retail outlets. Borrower sought a $2.3 million commercial loan against the property. |
| Challenge: |
Borrower did not have strong credit and had suffered both personal and business bankruptcy. In addition, the 100 year-old building had a waste collection tank on the property, requiring a Phase II Report, removal of the tank and additional cleanup of dirt around the underground tank. |
| Solution: |
The property had good value and debt serviced well. Adams Financial assisted in qualifying a co-signer as a co-borrower and worked with an Environmental Inspection team and the local County Ecology Department to get the building past the environmental threshold. The result was a 30-year loan fixed for 5 years at 7.375%. |
| PACIFIC PALISADES, CA |
| Description: |
17.5 acres of land in prime Pacific Palisades location. |
| Challenge: |
Owner needed to find a buyer to purchase the property quickly for $6.5 million in order to settle a pending law suit. |
| Solution: |
Using its years of experience working with investors, developers and brokers, Adams Financial Services, Inc. brought the right purchaser to the table and closed the loan in short order. |
| COLUMBUS, OH |
| Description: |
Auto Race Track and Recreational Grounds outside Columbus needed a $300,000 loan. |
| Challenge: |
Unusual property that included a variety of specific use buildings and additional agricultural acreage |
| Solution: |
Adams Financial was able to structure a Stated Income loan on the property by separating the Recreational Facility from the agricultural land in the appraisal. This enabled the borrower to qualify for a 15-year adjustable Prime APR loan at 11.25% based on a 50% LTV. |
| SANTA MONICA, CA |
| Description: |
Borrower wanted to retire a short-term $1.25 million loan on a Shopping Center. |
| Challenge: |
Sought to obtain the highest LTV long-term financing at the very best interest rate and terms despite rents that were substantially under market. |
| Solution: |
Adams Financial structured a 25-year fully amortized $6.65 million loan with a major life insurance company, fixed for the first 8 years at 5.91%. |
| CHARLESTON, SC |
| Description: |
Borrowers needed to retire a $1 million loan on a motel. |
| Challenge: |
Primary value was based on beach front property. Motel owners could not justify the loan they needed from cash flow and they also had credit challenges. |
| Solution: |
Adams Financial efficiently arranged a cash-out, 20-year refinance with a national lender. |
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