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Multi Family Loan - $685,000

  • Loan Amount: $657,250
  • Property Type: Multi Family
  • Originator: Shawn Harris
  • Interest Rate: 4.35%
  • Location: San Diego, CA

In this transaction San Diego Commercial & Business Financing was able to facilitate the purchase of this Multi-Family property located in San Diego.  We facilitated a 1031 and were able to deliver our closed transaction in just 30 days to facilitate a mandatory 1031 tax deadline.  Clients had credit issues and showed no income on their tax returns.   We funded this loan after in record speed after other commercial lender fell apart.

LTV:      55%
Term:    5 year fixed term, amortized over 30 years
Rate:     4.35%
Prepay:  Step Down

San Diego Commercial & Business Financing is proud to present the funding of this high quality San Diego Multi-Family building.  We were able to deliver a well below market rate for this transaction. 

The transaction was funded by Sr. Vice President Shawn Harris.

Shawn Harris has been active in the Commercial Real Estate community in San Diego for over ten years. At CTM Financial Services where he was the President he oversaw the funding of both commercial and residential real estate loans. As a branch manager of Stearns Lending, the largest privately held non-depository mortgage bank in California, he independently operated his own Mortgage Bank, catering to again to both the commercial and residential community.

For the past three years Shawn has focused solely upon the needs of his Commercial Real Estate clients and partners and is the founding partner of San Diego Commercial & Business Services.  By leaving the banking world he believe he can better serve his clients by offering a FULL product offering of loan services.

Please see his LinkedIn profile HERE.

Shawn specializes in finding A+ quality loan products for clients and properties that have trouble finding the appropriate loan placing.  He has successfully placed loans across all asset classes, including multi-family properties, office buildings, retail properties, gas stations, mobile home parks, restaurants, bars, self storage facilities, and auto shops.