In this transaction San Diego Commercial & Business Financing was able to facilitate the cash out refinance transaction of this local, downtown San Diego Gas Station. We were able to facilitate $600,000 in cash out funds to facilitate the purchase of another gas station.
LTV: 65%
Term: 5 year fixed, recast for a second 5 year fixed, 25 year amortization
Rate: 4.99
Prepay: 3,2,1
San Diego Commercial & Business Financing is proud to present the funding of this downtown San Diego Gas Station. Our client had been declined my numerous other local commercial lenders. We were able to get this transaction done NON-SBA, allowing for a very low rate (for a gas station) of $4.99% The transaction was funded by Sr. Vice President Shawn Harris, assisted by BDO Gary Davis.
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.