Closed Loan

Loan Scenario

CCG 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 & Solution

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.

CCG 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.


Multifamily Properties

Commercial Properties

Owner-User Properties

Our Clients