RealWebFunds, a national commercial mortgage broker, has arranged a $1,750,000 commercial mortgage loan for the center known as Newcastle Plaza in Newcastle, OK (near Oklahoma City). The newly constructed and stabilized, 15,300 sq. ft., retail center contains eight shops that are shadowed by a Wal-Mart.
(PRWEB) October 7, 2005 -- RealWebFunds, a national commercial mortgage broker, has arranged a $1,750,000 commercial mortgage loan for the center known as Newcastle Plaza in Newcastle, OK (near Oklahoma City). The newly constructed and stabilized, 15,300 sq. ft., retail center contains eight shops that are shadowed by a Wal-Mart. The shops are leased by national, regional, and local tenants.
The commercial loan was used to refinance the property, taking-out the construction loan that had been assumed at the time of acquisition at the end of 2004. The ten year fixed rate conduit financing was provided by a conduit's small balance program at a rate of 5.5% with fixed closing costs. RealWebFunds shopped this deal to many commercial lenders; the competitive environment created by multiple quotes assured the borrower that he found the best commercial mortgage rates and terms available in the market today.
About RealWebFunds
RealWebFunds, Inc. (www.realwebfunds.com) is a national commercial mortgage loan broker for real estate projects between $500,000 and $20,000,000. RealWebFunds is known for encouraging competition among commercial mortgage lenders to find the best commercial real estate financing available. Our commercial loan experts and Internet based commercial financing tools result in a service that is unmatched in efficiency, speed, and financing terms. In 2003, RealComm (http://www.realcomm.com) recognized RealWebFunds with a Digie Award for being a leader and innovator in the Commercial Real Estate industry.
For More Information Contact:
Christy Slye
888-314-3625 x117
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