Press Releases

Select Commercial Closes Owner-Occupied Loan of $2,000,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,000,000 Commercial Mortgage, for the refinance of an owner-occupied property located at 12112 RR 620 N in Austin, TX. The property houses the owner’s martial arts studio and contains 7400 square feet of gross building area and parking for 26 cars. The property was purchased and renovated in 2020 using an SBA 7(a) adjustable-rate loan. [...]

October 17th, 2024 By Stephen Sobin Read more...

Select Commercial Closes Apartment Bridge Loan of $2,776,491

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,776,491 Apartment Bridge Loan, Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,776,491 Apartment Bridge Loan, for the refinance and renovation of two multifamily apartment properties totaling 43 units located 0.2 miles apart in Chicago. The first property, located on West Roosevelt Road, had 31 apartment units and 6,900 square feet of ground floor retail located on a 0.386-acre site. The occupancy rate at closing was 55%. [...]

August 28th, 2024 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $1,500,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $1,500,000 Apartment Loan, for the refinance of a multifamily (garden/low-rise) apartment property totaling 38 units on a 1.01 acre site located at 725, 730, and 760 K Street in Idaho Falls, Idaho. The site consists of two non-contiguous parcels. The improvements were built in 1976 (730 and 760 K Street) and 1974 (725 K Street) and are in average condition and have a remaining economic life of 30 years. Buildings 730 and 760 are 3-story while the 725 building is 2-story. The property contains 31,368 square feet of net rentable area and the average apartment size is 825 square feet. [...]

January 24th, 2023 By Stephen Sobin Read more...

Select Commercial Closes Self Storage Loan of $6,700,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $6,700,000 self storage loan for the refinance of a 961-unit self-storage property located at 9402 North Navarro Street, Victoria, Texas 77904. The property consists of 15 buildings with 145,545 square feet of gross building area on 9.34 acres. The property was constructed in 2005 and is in good condition. The average unit size is 151 square feet, and 442 units are climate controlled. [...]

November 15th, 2022 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $2,300,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,300,000 Apartment Loan, for the refinance of a 13-unit multi-family garden apartment property located at 3218 W Olive in Chicago, IL (Cook County).  The property consists of a single, four-story apartment building with 10,644 square feet of gross building area and 9,580 square feet of gross leasable area. [...]

October 26th, 2022 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $5,999,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $5,999,000 Apartment Loan, for the refinance of a 120-unit multifamily garden/low rise property known as Windridge Village Apartments, located in Valparaiso IN (Porter County). The two-story apartment complex is located on a 9.98-acre site with parking for 285 cars and contains 100,880 square feet of net rentable area with an average unit size of 841 square feet. The property was constructed in 1994 and had a 95% occupancy rate at closing. [...]

July 22th, 2022 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $2,250,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,250,000 Apartment Loan, for the purchase of a multifamily (garden/low-rise) apartment property containing 48 units on a 1.25 acre site located at 1424 Elizabeth Street in Lafayette, Indiana. The property is a two-story walkup with 36,896 square feet of gross building area and 33,072 square feet of net rentable area. [...]

June 22nd, 2022 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $2,300,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,300,000 Apartment Loan, for the refinance of a three building portfolio of small apartments, totaling 16 apartment units, in scattered sites in Bayonne, New Jersey. The buildings are 3-story and 4-story walkup properties with 14,054 square feet of gross building area and 11,953 square feet of gross leasable area. The properties contain a mix of 1-, 2-, 3-, and 4-bedroom units and were 100% occupied at closing. [...]

May 8th, 2022 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $17,281,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $17,281,000 Apartment Loan, for the refinance of a 224 unit multifamily garden/low rise property known as Compass Pointe I & II, located in Valparaiso IN (Porter County). The two-story apartment complex is located on a 17.62-acre site with parking for 462 cars and contains 213,376 square feet of net rentable area with an average unit size of 953 square feet. The property was constructed in 1999 and had a 98.2% occupancy rate at closing. [...]

April 26th, 2022 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $6,827,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $6,827,000 Apartment Loan, for the refinance of a 64 unit garden/low rise apartment property known as Brandywine Garden Apartments, located in West Chester, PA (Chester County).  The three-story apartment complex is located on a 3.20-acre site with parking for 66 cars and contains 42,427 square feet of net rentable area with an average unit size of 663 square feet.  The property was constructed in 1964 and had a 98.4% occupancy rate at closing.   [...]

April 26th, 2022 By Stephen Sobin Read more...

Select Commercial Closes Manufactured Housing Community Loan of $2,215,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,215,000 loan, for the refinance of a manufactured housing community with 42 homesites, known as Willow Brook Village MHC, located in Hudson, Colorado (Weld County).  The manufactured housing community also includes 1 single family home and is located on a 3.922 acre site at 218 Grape Street in Hudson.  The community was originally constructed in 1980 and is in average condition.  Current occupancy is at 100%.  The average rent per homesite is $548 per month. [...]

February 23rd, 2022 By Stephen Sobin Read more...

Select Commercial Closes NNN Lease Loan of $1,400,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $1,400,000 loan, for the acquisition of a brand-new triple net leased O’Reilly Auto Parts investment property located in North Haven, Connecticut. The long-term corporate lease is for 15 years with four 5 year renewal options. O’Reilly Auto Parts is publicly traded on the NASDAQ and has a market cap of over $32 Billion. [...]

February 23rd, 2022 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $2,092,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,092,000 loan, for the purchase of a 50 unit garden apartment complex known as Lakeside Apartments, located in Brownsville, Texas (Cameron County).  The two story apartment complex is located on a 7.1 acre site with parking for 107 cars and contains 41,618 square feet of net rentable area with an average unit size of 832 square feet.  The property was constructed in 1965 and fully occupied at the present time. [...]

November 21st, 2021 By Stephen Sobin Read more...

Select Commercial Closes Two NNN Lease Loans Totaling $2,782,150

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of two loans, totaling $2,782,150, for the refinance of two NNN leased Dollar General properties located in Bristol and New Canaan, New Hampshire.  The Bristol property, located at 215 Lake Street consists of a 7,489 square foot building on a 2.37 acre site.  The Canaan property, located at 1024 Macome Valley Road, consists of a 9,100 square foot building on a 1.40 acre site.  [...]

August 25th, 2021 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $2,215,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,215,000 loan, for the purchase of a 29 unit, market rate apartment building known as Cornell Street Apartments, located in Bakersfield, California.  The apartment complex is located on a 1.15 acre site with a gross building area of 29,380 square feet.  There are 25 2-bedroom units and 4 3-bedroom units with an average unit size of 1,013 square feet. [...]

August 4th, 2021 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $2,700,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,700,000 loan, for the refinance of a 24 unit, three story, market rate apartment building located on North Kedvale Avenue in Chicago, Illinois.  The apartment complex is located on a 0.42 acre site with a gross building area of 19,600 square feet.  There are 12 two-bedroom and 12 one-bedroom units with an average unit size of 735 square feet.  The property was built in 1974 and is 96% occupied. [...]

June 28th, 2021 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $1,950,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $1,950,000 loan, for the refinance of a 24-unit garden low-rise, market rate apartment complex known as the Carriage House Apartments located in West Springfield, Massachusetts.  The apartment property contains 18,600 rentable square feet (average unit size is 775 square feet) on a 0.81-acre site with parking for 24 cars. [...]

May 27th, 2021 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $2,738,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $2,738,000 loan, for the refinance of a 15 unit garden low-rise, market rate apartment complex known as Highridge, located in Everett, Washington (Snohomish County).  The apartment consists of 9,040 square feet of rentable space on a 0.25 acre site with parking for 15 cars. [...]

April 7th, 2021 By Stephen Sobin Read more...

Select Commercial Closes NNN Lease Loan of $1,840,000

The tenant is a Walgreen’s drug store.  The property consists of a 14,490 square foot retail drug store located on a 1.79 acre site located in DeForest, Wisconsin (Dane County).  The store was built in 2005 and has roughly 9 years left on the primary lease term.  Select Commercial was able to provide the borrower with a 9 year fixed rate loan and a 25 year amortization.  [...]

March 16th, 2021 By Stephen Sobin Read more...

Select Commercial Closes Two Apartment Loans Totaling $8,345,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage broker, is pleased to announce the closing of two loans totaling $8,345,000 for its client in Montclair, New Jersey.  The two properties have been owned and managed by the borrower and his family for many years and are in good condition.  Both properties were 90%+ rented at closing. [...]

February 11th, 2021 By Stephen Sobin Read more...

Select Commercial Closes Two Apartment Loans Totaling $3,890,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage broker, is pleased to announce the closing of two loans totaling $3,890,000 for its developer client in Weymouth, Massachusetts.  The two properties were developed by the borrower, a local developer, in 2018, and are in good condition.  Both properties were 100% rented at closing.  The first property, located at 20 Humphrey Street in Weymouth, is a 10 unit apartment building located on a 0.74 acre site with space for 26 parking spots. [...]

December 16th, 2020 By Stephen Sobin Read more...

Select Commercial Closes Apartment Loan of $6,000,000

Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $6,000,000 Apartment Loan, for the refinance of a 90 unit garden two story, apartment complex known as Crossroads of Enfield, located in Enfield Connecticut. The apartment complex is comprised of eleven 2-story buildings on an 18.24-acre site with parking for 212 cars, a clubhouse and a playground. [...]

November 23rd, 2020 By Stephen Sobin Read more...

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