FEATURED CASE STUDY

LOAN AMOUNT:       $10,500,000 TOTAL LOAN

LENDER TYPE:        NATIONAL DEBT FUND

BROKER:                  HARBORWEST LENDING

PROPERTY:              MULTI-OFFICE BUILDING

LOCATION:               WEST LOS ANGELES, CA

LOAN SCENARIO

HarborWest was chosen as mortgage advisor to arrange a $10,500,000 cash-out refinance for an office building in Los Angeles, CA. The property was primary leased to a payroll company with a long-standing occupancy, and 15% to the owner's company which was used infrequently for client meetings and storage. The building had a $21,000,000 valuation and an owner that demanded extremely competitive terms with conditions waived that would be standard for any other similar transaction.

CHALLENGES

The building was leased 85% to a non-credit tenant that refused to provide financials and had near-term lease rollover risk. The owner requested non-recourse on the loan, and even no personal guarantee on the owner-user lease, nor was he willing to provide personal financials or credit for lender review. The current debt was only $3,000,000 which resulted in a large cash-out request of $7,500,000 for unrestricted personal use funded as a lump sum at closing. The client spent 4 months trying with other lenders before contacting us.

SOLUTION

HarborWest was able to capitalize on a long-standing debt fund relationship to justify that the majority tenant had a long history at the property and negotiated favorable reserve and trigger events to get the lender comfortable with tenancy. The top market location, 50% LTV and proof of substantial borrower liquidity helped to get the large cash-out approved with minimal documentation that would usually be required. Our team leveraged our managed bid process to negotiate and secure very competitive terms and flexible conditions for our client.

FEATURED TRANSACTIONS     Multifamily Properties

FEATURED TRANSACTIONS     Commercial Properties

FEATURED TRANSACTIONS     Owner-User Properties

HARBORWEST SERVICES     How Can We Help You?

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MULTIFAMILY LENDING

  • Financing for 5+ Unit Properties

  • West Coast & Nationwide Programs

  • Maximum 80% Loan-to-Value (LTV)

  • Nationwide Lending $1,000,000+

  • California Lending $500,000+

  • Competitive & Flexible Programs

  • Complimentary Loan Quotes

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COMMERCIAL LENDING

  • Financing Commercial Properties

  • West Coast & Nationwide Programs

  • Maximum 75% Loan-to-Value (LTV)

  • Nationwide Lending $1,000,000+

  • California Lending $500,000+

  • Competitive & Flexible Programs

  • Complimentary Loan Quotes

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OWNER-USER LENDING

  • Financing Owner-Occupied Buildings

  • West Coast & Nationwide Programs

  • Maximum 90% Loan-to-Value (LTV)

  • Nationwide Lending $500,000+

  • SBA & Conventional Lender Options

  • Improvements & Equipment Loans

  • Complimentary Loan Quotes

COMMERCIAL REAL ESTATE LENDING. SIMPLIFIED.

HarborWest Commercial Lending (HWCL) is a licensed real estate broker in the state of California (DRE #01907126) that offers nationwide mortgage consulting services. Client communication and recommendations are strictly consultative and based on our best efforts and experience. Any loan terms discussed by HWCL do not constitute an offer or commitment to lend – the final determination to lend and extended loan terms can only be made by third-party lenders after their full due diligence period. Please consult with your attorney for legal advice and your accountant for tax advice.

© 2019 HarborWest Commercial

CALIFORNIA-DRE #01907126
 

COMPANY ADDRESS

HarborWest Commercial

Newport Plaza Building

895 Dove Street, Third Floor

Newport Beach, CA 92660

COMPANY PHONE & FAX

Main: (949) 200 - 7796

Fax:   (949) 209 - 4657