$2 37 Million Loan for 23,000-SF Office Building in Sanford, FL
Released on: September 19, 2007, 5:01 pm
Press Release Author: Sergey Komarov
Industry: Financial
Press Release Summary: Sanford -World Capital Source, Inc. FL has arranged financing for a $2,370,000 loan secured by the office complex. Permanent financing has taken out coming due Mercantile Bank’s note.
Press Release Body: Sanford -World Capital Source, Inc. FL has arranged financing for a $2,370,000 loan secured by the office complex. Permanent financing has taken out coming due Mercantile Bank’s note. Constructed in 2004, the 3 story building is occupied by the professional grade tenants and is strategically located just a few blocks from major highway I-4.
Office Space commercial mortgages can be financed up to 90% LTV on the purchase and up to 85% on refinance. The note can have a below 7% rate (as of this month) for a fully amortizing 30-year note. There are other programs for higher risk grade scenarios with higher pricing that can accept principal guarantors with credit scores as low as 570 fico.
World Capital Source, Inc. is an Orlando based company specializing in securing commercial mortgages.
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