Commercial and Industrial properties cover a huge spectrum. They can be office buildings, retail spaces, or mixed-use buildings. They can also be RV parks, Industrial or storage facilities. Even bare land can fall into the commercial lending world. At Northwest Private Lending, we work outside the banks to secure investment capital for clients in Oregon, Idaho, and Washington.
Loan Origination Fee: 3 Points (min. $2,500)
Loan Document Fee: $650-850
Monthly Interest Rate: 1% per month
Monthly Payment: Interest Only
Loan Amount Range: $50,000 up to $2,000,000
Closing Costs: Paid by Borrower
Loan Closing: 3-5 Business Days
Loan Maturity: 1 month to 10 years
Property Appraisal: Not Required
Underwriting Fee: None
Pre-Payment Penalty: Never
Extension Fee: $0 on performing loans
Mobile Home Park
Location: Steeves Mobile City – 2615 SE Courtney Ave, Milwaukie, OR 97222
Loan Amount: $1,300,000
Scenario – Our client’s family has owned Steeves Mobile City for 2 generations. When their father passed away he left the 80 unit mobile home park to his children. One wanted to keep it and one wanted to cash out. There were inheritance taxes, bills and a large lump sum to buy out the other heir. NWPL lent all the money they needed plus 1-year of pre-paid interest so that the next generation could get on their feet and refinance with an SBA loan down the road.
Mixed Use Retail and office building
Location: 82nd street plaza, 324 SE 82nd Ave Portland, OR
Loan Amount: $1,100,000
Scenario – Our clients had plenty of cash for the down payment and were able to purchase the property from a distressed seller at a great price. The only problem was that one of the tenants in the building was a licensed Cannabis retailer which kept the building from being conventionally financeable. NWPL loaned 60% of the purchase price and included 1-year of pre-paid interest so that the new owners could use their cash to renovate the building. Once the property is fully leased up with appropriate business they can refinance with an SBA loan.
RV Storage Facility
Location: Eagle Creek RV 23000 Eagle Creek Rd, Eagle Creek, OR
Loan Amount: $850,000
Scenario – The owner has run a successful RV storage and industrial storage business for years. They wanted to invest in covered storage which greatly increased their profit. They needed the financing to pay of the existing mortgage and build 60 covered RV spaces. Based on the value of the property, NWPL was able to lend all the money they needed and the client was able to refinance with a long-term / low rate SBA loan when they completed
Location: 3939 Lake Grove Ave, Lake Oswego, OR
Loan Amount: 1,400,000
Scenario – Our client owns a lot of commercial real estate and wanted to purchase a new property that had to close quickly. They have owned this office space for years and have a great long-term tenant. We were able to give them all the cash they needed for their next purchase by using the equity in this building…and we did it in less than 10 days.
We currently service loans in Oregon, Washington, and Idaho.