Joseph Schwimmer of Preferred Capital sourced the loan for $6.1 Million in Financing on 122 units

CHICAGO - Dec. 23, 2013 - PRLog -- Joseph Schwimmer of Chicago based Preferred Capital Group, recently secured financing in the amount of $6.1 million at a 10 year fix and 30 years amort for Coronado Apartments. It is a 122 unit building on the 1000 block of W Rosemont Ave in Chicago, IL.

Preferred capital has close relationships with all major real estate capital providers, including domestic and foreign banks, CMBS lenders, credit companies and insurance companies, private lenders and hedge funds. Based on this, along with our true understanding of the needs of each client, we are skilled at arranging fixed and floating rate, construction, bridge, and permanent loans.

Today’s market continues to present owners and investors with unprecedented opportunities, many of which do not fall in the traditional mortgage “box”. Often, these deals require a quick close or a lender that can work with the borrower to sort out a complicated situation (loan purchases, vacancy issues, foreclosures, etc). At Preferred, we work for our clients to find the right bridge lender for each particular situation. Terms offered by bridge lenders can vary dramatically and an experienced intermediary is critical to finding the right combination of factors that go into this type of loan.