May 15, 2014
For Immediate Release:
Huntingdon Valley,Pa. /Fort Lauderdale,Fl.
GFCIB and Advisors, LLC, a nationally recognized advisory firm for commercial real estate owners, developers, builders and mid sized businesses, announced that it has once again successfully closed on a discounted note purchase financing loan this is the second phase of a mush larger transaction for a Private Real Estate partnership located in the suburbs of Philadelphia. The total transaction closed at $11 million- with a total of 120,000 sq. ft of class A office space. The ownership engaged GFCIB and Advisors, LLC to provide exclusive financial advisory and loan placement services to them.
The collateral was a Class A office building of 80,000 sq ft, the first part of the loan closed about 10 days ago was secured by a 40,000 sq ft Class A office building. located in the suburbs of Philadelphia, which was in foreclosure by a major national default servicer with a sheriff sale date was set. To make matters more complicated this was a deal owned by Tenants in Common, the TIC aspect just added another layer to deal with.
Negotiating a discounted payoff and brining in new financing was a great result for all parties, said H. Jack Miller who personally handled this transaction.
We spend a lot of time getting to know our clients, the projects and motivations everyone has, then we work with all stakeholders to get the best possible out come, sometimes this included obtaining a discounted note purchase financing, loan and mortgage modifications and financial restructuring with our without new equity.
Protecting, advocating and satisfying the needs and desires of our client’s one transaction at a time.
For additional information contact:
H. Jack Miller
215-947-2974 ext 238