100% Commercial Real Estate financing secured for Lord’s Castle Resort development project in Las Vegas area, NV.
April 29, 2006 (PRLEAP.COM) Business News400Bankers.com has closed a $120,500,000 commercial property loan for resort development project in Las Vegas area, NV with a private Commercial Lender. Nestled on 450 acre property, it will be a place for people to feel as if they have been transported back to another time. The owner of the project, PMCBS, a commercial real estate investor and property manager who was looking to finance this dream for a long time. PMCBS didnít have the assets and support to finance this project so they turned to 400Bankers.com and itís investors to finance this project. With only $4MM net worth and a start-up company, PMCBS was unable to get funding from Traditional Lenders . 400Bankers.com was able to structure 100% Commercial Financing with collateral providers from which 40% of loan was debt free.
The borrower locked rate at 6.25%. This non-recourse 100% Commercial Financing has a 30 year amortization schedule and closed within 63 days of application. Jessica Hudson, commercial loan officer of Hudson Funding Group and member of 400Bankers.com network, was the originator for this transaction.
400Bankers.com (www.400bankers.com ) is a national and international Commercial mortgage loan bankers network for real estate projects between $200,000 and $10,000,000,000. 400Bankers.com has over four hundred Commercial Lenders and private investors in itís network. The network consists of Commercial loan experts who are unmatched in efficiency and financing terms.