Aloft Capital is pleased to announce its latest transaction closing. We recently helped a client source and close a cash-out refinance loan for a Charter School property they owned in the Charlotte, NC area. The loan structure provided a 25 year amortization, with a 5 year fixed rate. Funds received from this transaction are being used to purchase additional commercial real estate in order to diversify the investors real estate portfolio. Client is actively pursuing a number of options for this purchase and this transaction will also be financed by an Aloft Capital lender.
This loan presented a number of challenges that are difficult for traditional lenders to finance. Many lenders are not actively lending to schools, as they are concerned the collateral could be seen as a special-use property. Secondly, lenders are very conservative when considering a cash-out refinance scenario. To accomplish both in this transaction took a lender that was willing to look at the bigger picture and gained an excellent new client in the process.