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$850,000 Mixed Use Purchase
Posted by Commercial Loans in Commercial Real Estate, Recent Closings
Where: San Francisco, CA
Type: This was the purchase of a building and land by the Restaurant that occupied it. Typically a simple 504 transaction however this deal had some wrinkles-what deal doesn’t today? The first was that the father was selling it to the children which some lenders will not consider. In addition, the restaurant had not been opened two years and it was not an SBA approved franchise restaurant. Still, it had good numbers, was very successful, and the operators had good credit and enough assets for the money down. In the end, we closed it in 60 days from start to finish and another successful business gets the money they need. Now, they set their own rent! IF you have a successful business and you want to buy the building you are in-give me a call today at 310 456-1056
