Balboa CRE

Commercial real estate investor needed a quick decision and loan closing to successfully close on this investment property in Los Angeles, CA. Borrower has a strong track record of acquiring under-performing apartment properties, rehabbing them, and creating a higher performing income producing property.

Balboa CRE saw the borrower's rehab vision and used a third-party fund control to set aside the necessary funds to complete the project. Project is currently over 85% complete, fully pre-leased with updated rent roll exceeding initial underwritten projections.

Local real estate investor sold his hotel in San Diego and had a 1031 Exchange setup to purchase 3 separate Dollar General properties throughout the United States with a local credit union. At the last minute the credit union changed a key term of the deal on the borrower!

The borrower's broker contacted Balboa CRE and told us if we could match the terms - and close ASAP - the deal was ours. Fortunately for all parties involved (except the credit union) we were able to perform our own internal underwriting, get approval, and close on these three NNN leased, income producing properties for our new borrower.

Balboa CRE was approached by a successful broker working with this borrower in need of CRE investment financing to purchase this 5 unit apartment building in a bankruptcy sale. The borrower has a strong real estate portfolio showing a successful track record of value-added investment property experience.

The borrower needed Balboa CRE to see the potential proforma and appraised "After Value" of this deal to make the loan work. Looking at the post rehab renovations (and higher than expected new rent roll) it looks like we made a good call.

Long time owner-occupied borrowers decided to stop operating their own grocery store to slow down and enjoy their retirement years. They were able to keep the property and found a great tenant in Grocery Outlet.

Our borrowers approached Balboa CRE when they needed to find a commercial real estate lender that could quickly and easily help them refinance this property while maintaining a positive relationship with their tenant, Grocery Outlet. Balboa CRE closed this loan keeping all parties involved happy.

Balboa CRE was pleased to start our relationship with this new broker on such a great property located in the heart of downtown San Diego!

The borrower on this deal is a very successful real estate investor that was in need of a competitive rate with flexible terms from an institutional lender. With some deals of this size, there were a few starts and stops during the initial underwriting. We were able to provide our true common sense approach towards good deals that helped keep the loan on track and able to close on time.

Balboa CRE has enjoyed a long standing relationship with this borrower's broker. We have been in discussions for months awaiting the right commercial real estate investment opportunity for our borrower. Once the right property was identified by the broker Balboa CRE was able to provide a Pre-Approval Letter and appraisal quote within 3 days.

The borrower needed a fast closing on a cash-out refinance on his free-and-clear NNN restaurant property to facilitate a purchase of another NNN restaurant.

Balboa CRE was able to provide our borrower with cash-out financing and a quick closing to help him acquire another investment property and continue to improve his real estate portfolio.

Balboa CRE knows that some lending institutions cannot - or will not - lend below $500,000 loan amounts. Nothing against those other lenders but we're more than happy to take a look at your borrower's "small loan balance" loan any day of the week!

Interestingly enough, this deal was brought to us by a broker that has also brought some of Balboa CRE's largest loans. And once we took a look at the underwriting fundamentals (incredibly low LTV of 10%, extremely strong subject property DSCR over 6.00) there was practically no way we could say no on this 21-unit apartment building refinance. Brokers and real estate agents, make sure to reach out with your "small loan" balances next time.

Borrower was coming due on his previous commercial real estate loan on his subject property medical office condo. One of Balboa CRE's most respected brokers approached us for a rate and term refinance loan on this property located in Newport Beach, CA.

With a loan balance below $400,000, other institutional lenders weren't interested but Balboa CRE was able to analyze the borrower's strong global cash flow to see the potential behind this deal.

Despite a relatively higher LTV and tight subject property DSCR, we successfully closed on this commercial real estate loan for our new borrower.