Select Commercial Closes Retail Commercial Mortgage Loan of $4,788,000
Frisco, Texas Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a $4,788,000 Retail Mortgage Loan, for the refinance of a six-tenant retail property located at 13225 Dallas Parkway, Frisco TX. The property contains 12,644 gross square feet of space on 2.113 acres of property. The property was newly built and contains a Starbuck’s as well as five other local tenants, including a dental office and various restaurants. The property was 100% leased and occupied at closing. “Select Commercial specializes in retail properties and we were eager to pay off the borrower’s construction loan and provide cash out for investment”, commented Stephen A. Sobin, President and Founder of Select Commercial.
The borrower received a 5-year fixed rate loan term and a 30-year amortization with no prepayment penalty. The loan was placed with a national credit union at a very competitive rate. “The borrower was looking for permanent financing and cash out and he liked the fact that our loan did not have any penalties for early payment”, said Mr. Sobin, adding, “Our borrower was very pleased with our services!”.
About Select Commercial
About Select Commercial Funding LLC
The professionals at Select Commercial Funding LLC are commercial mortgage consultants focused on providing the best financing solutions for each deal and every client. We manage every detail of the loan process from start to finish and are proud of the reputation we've established with our clients. We act as your professional commercial real estate loan advisor to help find the optimal financing solutions for you by offering personalized service and custom tailored loan programs to suit your individual needs. From small loans to large loans, we deliver the results that have earned the trust and confidence of borrowers and lenders nationwide.
Select Commercial specializes in apartment building loans, commercial real estate loans, and business real estate loans nationwide, with a minimum loan size of $1,500,000.
President of Select Commercial
About President Stephen A. Sobin
Stephen A. Sobin is the President and Founder of Select Commercial Funding LLC. Mr. Sobin has over 35 years’ experience originating commercial real estate loans. He formed Select Commercial to offer commercial mortgage banking and real estate capital advisory services to his clients on a national basis. His goal was to become an advocate for his clients and to help them navigate the ever-changing economic conditions facing the banking industry and to assist them by providing access to commercial real estate funds despite the uncertainty of the capital markets. The company was founded on the belief that most small to medium sized property and business owners lacked the expertise and sources to obtain the best financing options in the $1,500,000 to $10,000,000 range. While large real estate companies often have in-house finance professionals, most small to medium sized borrowers do not have the same access to professional advice and sources of funds. Mr. Sobin focuses on providing those services to this segment of the market.