RECENTLY COMPLETED LOANS

Commercial Lending Group, Inc. is a volume leader in the commercial lending brokerage business, priding ourselves on serving commercial investors with expertise gained over our combined 50+ years of experience. Employing established relationships with national, regional and local lenders, we ensure our clients receive the lowest rates and best programs to meet their long-term goals.

Boston House Apartments
Portland, OR

  • Type: Multifamily
  • LTV: 80%
  • Loan Amount: $2,640,000
  • Loan Type: Purchase
  • Notes: We had to overcome books and records that were incomplete and comingled with other properties owned by the seller. CLG spent 2 weeks researching and rebuilding the historical numbers to more accurately reflect the operations.

Forest Grove Apartments
Portland, OR

  • Type: Multifamily
  • LTV: 76%
  • Loan Amount: $3,188,000
  • Loan Type: Refinance
  • Notes: This refinance was done to create cash for another purchase. Even with a prepayment penalty on the underlying lien, the borrower was able to pull the equity, get a lower rate and enjoy interest-only payments.

Fessenden Apartments
Portland, OR

  • Type: Mixed – Residential/Commercial
  • LTV: 58%
  • Loan Amount: $638,300
  • Loan Type: Refinance
  • Notes: This was the investors’ first commercial investment property and contains a lot of potential value add. We were able to deliver great terms in the hard to place under $1M space.

Fairview Rowhouse
Fairview, OR

  • Type: Mixed Use – Retail & Multifamily
  • LTV: 51%
  • Loan Amount: $427,750
  • Loan Type: Purchase
  • Notes: Very low Cap Rate purchase utilizing 1031 exchange funds. We assisted this client in purchasing their first commercial property.

Multifamily Property
Portland, OR

  • Type: Apartments
  • LTV: 79%
  • Loan Amount: $500,000
  • Loan Type: Purchase
  • Notes: High loan to value acquisition for a first-time multifamily investor utilizing 1031 exchange funds. The property presented with 2 of the 5 units vacant, but we were able to underwrite based on the potential income after the units were fully renovated. Great win for this investor!

Washington Way Apartments
Longview, WA

  • Type: Apartments
  • LTV: 75%
  • Loan Amount: $577,500
  • Loan Type: Refinance
  • Notes: The owner contacted us after reaching out to several of his current relationships and was turned down. We were able to provide cash-out of his building located in Longview, WA at very favorable rates.

Cable Apartments
Portland, OR

  • Type: Apartments
  • LTV: 73%
  • Loan Amount: $700,000
  • Loan Type: Refinance
  • Notes: Refinance to take out seller carry. The recent acquisition and lack of historical operating numbers along with the sponsors residing out of state made locating a lender difficult. We located the right lender and assisted in navigating several other challenges that arose during the process.

Tioga-Koski
Coos Bay, OR

  • Type: Mixed – Retail / Multifamily
  • LTV: 73%
  • Loan Amount: $2,200,000
  • Loan Type: Purchase
  • Notes: Very challenging historical property in a tertiary market. The property had been historically mismanaged while the new owner had a great vision for how the property could be run. We were able to locate and work with a lender that could also see that vision.

Office & Retail Space
Oregon City, OR

  • Type: Office / Retail
  • LTV: 70%
  • Loan Amount: $2,688,000
  • Loan Type: Refinance
  • Notes: Cash-out proceeds being used to fund another acquisition. Different lease types made underwriting the income difficult, lender located was able to work through this challenge and deliver full proceeds.

Estacada Lakes
Estacada, OR

  • Type: Apartments
  • LTV: 72%
  • Loan Amount: $1,260,000
  • Loan Type: Purchase
  • Notes: CLG arranged the financing for Estacada Lakes through a regional bank located on the West Coast. Estacada is a very small market 15-20 miles east of Portland making it challenging to source for financing. That said, we were able to obtain a 10-year fixed rate at below 4% with a lifetime ceiling of 8.75%.

Hood Street Apartments
Salem, OR

  • Type: Apartments
  • LTV: 72%
  • Loan Amount: $450,000
  • Loan Type: Purchase
  • Notes: Owner wanted to take advantage of great rates and pull out some equity in the process. This was one of the first deals that we have seen values effected by slightly under-market rates due to the newly applied rent control regulations. Appraisers now have to make a calculation for a maximum possible increase and how that would effect cash flow over a 2 year period assuming no turnovers occur naturally. We were lucky in this case that the desired loan amount was still achieved.

Office Building
Eugene, OR

  • Type: Office
  • LTV: 47%
  • Loan Amount: $851,000
  • Loan Type: Purchase
  • Notes: CLG arranged financing for the purchase of a small office building located in Eugene, Oregon. Historical income and expenses were low compared to market. The buyers were in a 1031 exchange which  needed only a 50% loan, however, that put the request well under $1m (the typical minimum of office/retail properties). CLG arranged the financing with a regional credit union familiar with the buyers and the Eugene market on very favorable terms.

Clearview Apartments
Keizer, OR

  • Type: Apartments
  • LTV: 75%
  • Loan Amount: $1,912,500
  • Loan Type: Refinance
  • Notes: The borrower needed to replace a higher interest rate, short-term loan bridging three properties. The lender was willing to release Clearview provided we obtained a full leverage 75% loan – which we did. CLG arranged new financing with a rate below 4% and a lifetime ceiling of only 7.5% with a very limited prepayment penalty. The request was complicated also by the short term ownership of less than two years, however, the property underwent significant renovations during that time.

Calhoun Court Apartments
Portland, OR

  • Type: Apartments
  • LTV: 69%
  • Loan Amount: $658,950
  • Loan Type: Purchase
  • Notes: Smaller purchase of a North Portland apartment property. Historical utilities were high allowing for higher income potential with the installation of water saving fixtures and the implementation of utility bill backs. The buyer was out of state adding another challenge. However, CLG was able to secure the financing with a Salem based Credit Union.

Sunrise Apartments
Gresham, OR

  • Type: Apartments
  • LTV: 75%
  • Loan Amount: $3,712,500
  • Loan Type: Purchase
  • Notes: Sunrise posed some interesting challenges in that the property was located outside the Portland MSA along the Columbia River and the buyer was out of state. However, CLG was able to work with t he lender based on the quality of both the property and the borrower (who had over 35 years experience in apartments and very high net worth). The purchase was an exchange and CLG was able to package and get the loan closed on time.

Parkway Apartments
Corvallis, OR

  • Type: Refinance Apartments
  • LTV: 75%
  • Loan Amount: $2,235,000
  • Loan Type: Purchase
  • Notes: Refinance of a medium sized apartment project in Corvallis, OR. The borrower was using the cash proceeds from the loan to replenish cash reserved used for upgrading the units and some exterior work with the balance to be used for other purchases. The ownership group was strong and CLG faced no issues with the request other than sourcing the loan with a lender familiar with the Corvallis market.

Borica Gardens
Portland, OR

  • Type: Apartments
  • LTV: 57%
  • Loan Amount: $650,000
  • Loan Type: Refinance
  • Notes: Simple purchase of a small apartment property. The buyer was executing an exchange putting some time pressure into the equation. However, CLG was about to source a regional lender who performs well on loans under $1m with lower leverage requirements.

Peyton Plaza Apartments
Portland, OR

  • Type: Apartments
  • LTV: 76%
  • Loan Amount: $2,066,000
  • Loan Type: Purchase
  • Notes: Purchase of a straightforward 2-story apartment project well located in Portland. The buyer was an experienced locally based owner who was looking for a turnkey property. Income and tenancy were both stable and fit the profile the buyer wanted.

Greenview Apartments
Portland, OR

  • Type: Apartments
  • LTV: 77%
  • Loan Amount: $2,994,000
  • Loan Type: Purchase
  • Notes: Refinance for a newly renovated apartment property located on a major SE Portland arterial. After acquisition, the property underwent extensive upgrades with windows, full exterior paint, and full rehab of several units. What was one of the worst properties in that stretch of SE Stark Ave. is now one of the best due to an owner who believes in investing in his real estate.

Star Krest Apartments
Portland, OR

  • Type: Apartments
  • LTV: 65%
  • Loan Amount: $2,470,000
  • Loan Type: Refinance
  • Notes:This was a cash-out refinance for a high net worth borrower with over 35 properties in the portfolio. Star Krest when purchased needed several hundred thousand dollars of renovation and repair work coupled with increasing rents to market. Doing both increased the value of the property and allowed for a Freddie Mac 10-year fixed rate loan with interest only payments for the full 10 years.

Springfield Apartments
Springfield, OR

  • Type: Apartments
  • LTV: 70%
  • Loan Amount: $1,057,000
  • Loan Type: Refinance
  • Notes: This refinance was complicated by an out of state borrower and a serious credit situation needing explanation. In the end, CLG was able to work with the lender on the credit issue and still obtain a high leverage cash-out refinance which paid off higher interest revolving debt used for capital improvements at the property..

We're Here to Help with Your Loan