Press Releases

 

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. [...]

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. [...]

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. [...]

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. [...]

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.   [...]

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. [...]

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. [...]

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. [...]

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.  [...]

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. [...]

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. [...]

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. [...]

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. [...]

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.  [...]

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. [...]

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. [...]

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. [...]