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Follow on Google News | Arriba Capital Closes a $1,945,000 Commercial Loan For an Industrial Property in Rockford, ILBy: Arriba Capital Challenge: The current debt on the property was maturing in less than 30 days and the existing lender wasn’t willing to extend the loan. The tenant base was unique in respect to the number of tenants (43) and the short-term nature of the leases. More than half the leases expired within 12 months of the closing date. The property was originally built in the 1920’s so the age and condition of the building had to be taken into consideration as well. Lastly, the majority owner was an out of state borrower and the minority partner, whom was being bought out, managed the day-to-day operations. Solution: Arriba identified a local community bank that understood the Rockford market and the complexities involved in this particular transaction. By emphasizing sponsorship’ ABOUT ARRIBA CAPITAL Arriba Capital is a fully integrated financial services company and a brand synonymous with excellence in commercial real estate. Arriba Capital has a diverse and innovative product line to optimize all of your needs, including asset management and various types of debt and equity programs. Our seasoned professionals have worked with hundreds of entrepreneurs, developers and investors by offering insight and analysis for structuring projects, repositioning assets, negotiating payoffs and providing guidance to enable you to achieve successful results in these rigorous capital markets. Arriba Capital focuses on providing financing solutions for transactions across a range of property types anywhere in the U.S. Arriba Capital is headquartered in Scottsdale, Arizona with a regional presence throughout the nation. End
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