100% Commercial real estate financing secured for Lord’s Castle Resort development project

Released by: Jen Peterson

400Bankers.com has closed a $120,500,000 commercial property loan for resort development project.

Keywords: commercial lender, commercial lenders, "commercial lender", commercial loan, commercial bank

Update Date: 4/29/2006 10:33:56 AM

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Descrption:
April 29, 2006 -- 400Bankers.com has closed a $120,500,000 commercial property loan for resort development project in Las Vegas area, NV. 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 didn’t have the assets and support to finance this project so they turned to 400Bankers.com and it’s 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% financing with collateral providers from which 40% of loan was debt free.

The borrower locked rate at 6.25%. This non-recourse commercial mortgage 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.

About 400Bankers.Com
400Bankers.com (http://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 lenders and private investors in it’s network. The network consists of commercial loan experts who are unmatched in efficiency and financing terms.