PRLog - Dec. 19, 2012 - CARLSBAD, Calif. -- The property is a 10-unit, 6,000 square foot apartment building that was 70% occupied and collecting below market rents. The borrower acquired the property with the intent of adding value through lease up efforts and by increasing rents. There are also plans to renovate the complex and complete some deferred maintenance. Once stabilization efforts are finalized, the borrower intends to sell the property and payoff the bridge loan.
Long Beach Multi-Family Building
Helvetica provided quick financing in order for the borrower to close on the property within a short time frame. The management team was able to conduct due diligence, underwrite and process the loan quickly due to their experience and expertise.
“Our fast and creative short-term bridge financing allows borrowers to acquire value-add properties that are not eligible for conventional bank loans. Borrowers utilize our bridge loans while stabilizing a property until they can sell the asset, or refinance out of our loan. Some of our borrowers also seek bridge financing for cash out refi’s in order to free up liquidity for other investment opportunities. We will continue offering alternative financing to experienced value-add sponsors of commercial properties with potential upside," stated Chad Mestler, CEO of Helvetica.
The experience of the management team has allowed Helvetica to position itself as an opportunistic real estate investment group. The ability to identify market inefficiencies has allowed Mestler, and the Helvetica team, to generate above average returns. Along with lending on value-add commercial properties, Helvetica also looks to acquire these assets as a principal group and sponsor.
The Helvetica Group is a real estate investment bank providing innovative private lending, distressed asset acquisitions, brokerage, investment management and family office services. Helvetica is a direct lender and invests on behalf of individual investors, trusts, pension plans, retirement funds and institutional investors representing over $1 billion in combined assets. We work closely with brokers, bankers, lenders and financial advisors as strategic partners to provide clients with fast access to financing, affording them the opportunity to quickly leverage their real estate assets. The Helvetica Group and its affiliates provide alternative financing secured by a variety of property types including: residential, retail, office, apartments, storage, RV parks, mobile home parks, light industrial, mixed use and other special use properties.