Retail Strip in Tempe, Arizona
The Sponsor was initially rolling a 1031 exchange from the sale of a property in another state into a retail center in Arizona. The Borrower was looking for maximum leverage to limit the down payment that was in exchange, however, the sponsor was unable to obtain the leverage he required through his existing relationships.
CommLoan was … READ MORE
60 Unit Multifamily in Albuquerque, New Mexico
The Sponsors were experienced investors in the local Multifamily market and had four lenders already working on quotes when they heard about CommLoan. The Investors were looking for a loan to acquire and improve the property, which had below market occupancy, but upside potential on rents.
CommLoan was able to secure a permanent loan … READ MORE
Auto Service & Repair Center in Chandler, Arizona
The loan was in process with a national lender that offered a low interest rate 5-year program. The property, however, did not meet the lender’s strict underwriting stress test and interest rates were rising.
CommLoan originally positioned the loan with multiple lenders, putting the Borrower in a place to quickly adjust and secure … READ MORE
35 Unit Multifamily in Phoenix, Arizona
The Sponsor initially thought that the property was at market stabilization. During the due diligence period, it was discovered that the property had 8 out of 35 units that were vacant and needed rehab. The Sponsor had an existing relationship with another bank that had committed to funding. However, during the final underwriting, the assurance of obtaining … READ MORE
Alaska USA Federal Credit Union has selected Glendale, Arizona for its new state-of-the-art Operations Center. The two-story, 185,000 square-foot building will serve as the credit union’s new operation center—supporting Alaska USA’s continued growth and investment in all the communities it serves.
Alaska USA has made a smart decision to move operations to Arizona. Given the availability of competitively priced land, energy … READ MORE
CommLoan had the opportunity to catch up with Founder and CEO of 1st Service Solutions, Ann Hambly. After spending 30 years of her career in servicing for commercial real estate, … READ MORE
The media spotlight was shining bright on CommLoan in recent days. Mitch Ginsberg, CEO, spoke on a panel for business leadership and innovation at the Jewish Federation of Greater Phoenix, was featured in the “Trendsetters” section of AZ RE Magazine, interviewed with Fox Radio’s … READ MORE
CommLoan examines deal-activity vs. transaction volume trends
First-quarter of 2017 saw an 18% decrease in transaction volume, which
came in at a grand total of $94.8 billion, according to data from Real
Capital Analytics (RCA), a New York City-based research firm. According to
that same report, portfolio deals fell by 38 percent year-over-year, while
single-asset transactions fell by 10 percent.
However … READ MORE
AARAA’s Global Update Focused on Key Trends in Commercial Real Estate
On Friday, April 21st, CommLoan’s Vice President of National Business Development, Eric Little, spoke about the changes and trends that are shaping commercial real estate at the AREAA (Asian Real Estate Association of America) Global Luxury Summit in Miami, … READ MORE