Select Commercial Funds $800,000 Office/Warehouse Loan in Fairfield NJ
NEW YORK – Select Commercial Funding LLC, a leading nationwide commercial mortgage brokerage company, is pleased to announce the closing of an $800,000 cash-out refinance of an office/warehouse property located in Fairfield New Jersey, in Essex County. The building consists of 12,000 square feet of space, the majority of which housed the owner’s plumbing supply company. The building also contained three smaller office tenants. “The borrower was able to refinance his current high rate loan and obtain cash out for building improvements” explained Stephen A. Sobin, President and Founder of Select Commercial.
The borrower received a fixed rate of 3.75% for 5 years and a 25 year amortization.
The borrower chose Select Commercial for their loan based on Select Commercial’s knowledge of the market, their 30+ years of experience and their “A+” rating with the Better Business Bureau. Stephen A. Sobin negotiated the loan on behalf of the borrowing entity.
About Select Commercial Funding LLC
Select Commercial specializes in apartment building loans, commercial mortgage loans, and business real estate loans nationwide.
About President Stephen A. Sobin
Stephen Sobin formed Select Commercial Funding LLC to offer commercial mortgage banking and real estate capital advisory services on a national basis. His goal was to become an advocate for his clients and to help them navigate the constant changes facing the banking industry and to assist them by providing access to commercial real estate funds despite the constant challenges facing the capital markets. The company was founded on the belief that many small to medium sized property and business owners lacked the expertise and capital sources to obtain the best financing options in the $750,000 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.
Please visit http://selectcommercial.com for more information.