Real Estate Loans Are Closing During Global Pandemic. Just Ask Rickey Biddle of Philadelphia
Developer Rickey Biddle has had success closing real estate loans on student housing projects in Philadelphia during COVID-19 Pandemic
"When the going gets tough, the tough gets going," said Rickey Biddle, who worked with Diligence Capital Advisors to close his third loan in the last three days. "People are saying there is no capital available because of the COVID-19 pandemic and that is simply not true. You just have to continuously search for the lenders who are transacting in this environment. They are out there", said Biddle who was reached by phone.
The closing of the refinance of the complex occurred on Friday May 29th, 2020.
"You have to work even harder during there uncertain times in order to achieve success, said Jared Cobert, Managing Partner of Diligence Capital Advisors". Mr Cobert has sourced and closed over 20 commercial real estate loans since the outbreak of COVID-19. "Our Rolodex of lenders is big, this is true. However, every good broker has a long list of lenders they can call on. The difference is, we will not stop until our clients get the desired results regardless of how difficult the economic climate is", said Cobert by text message.
About MK Management Group. For more information on MK Management Group, visit https://www.mkmgmtgroup.com.
About Diligence Capital Advisors
Diligence Capital Advisors is a Capital Solutions Firm based in Haddonfield, New Jersey. The principals of Diligence Capital Advisors have sourced and/or closed senior debt, mezz debt, JV equity and preferred equity deals valued over 2 billion dollars. If you have a real estate project in the Philadelphia or New Jersey market that requires debt or equity, contact Diligence Capital Advisors at http://www.DiligenceCapitalAdvisors.com
Diligence Capital Advisors