Select Commercial Closes Retail Commercial Mortgage Loan of $4,000,000
Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of a Commercial Mortgage Loan of $4,000,000, for the refinance of a neighborhood retail shopping center known as Pelham Plaza Shopping Center, located in Pelham, Alabama. The center contains 108,957 gross square feet of building area on a 10.66-acre parcel. The property was built in 1973 and has parking for 430 cars. The property was 95.6% occupied at closing with 18 local tenants and anchored by a local supermarket. “Select Commercial specializes in commercial and apartment lending, and we like to lend to local real estate investors”, commented Stephen A. Sobin, President and Founder of Select Commercial. “We liked the property very much, but more importantly, we were very comfortable with the borrower’s strong financial condition and management experience. Quality management is very important to our underwriting process”, added Mr. Sobin.
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.