Are you embarking on a commercial real estate project? Do you have the chance to acquire property at an exceptional value? ClearSky’s commercial real estate lending solutions can assist you in closing that deal! Whether you require short-term or long-term lending products, we have the capability to provide the support you need.
Commercial real estate loans usually pertain to loans on real estate in which the borrower occupies a minimum of 51% of the building. Down payments typically fall within the range of 20 to 30%, although this can vary.
These loans are secured with a lien on the property. We have the capability to consider various factors, including the property’s nature, the borrower’s creditworthiness, the property’s intended use, financial ratios, and more. Our dedicated team works closely with clients to facilitate the successful completion of the deal.
Our commercial lending products function similarly to mortgages, providing a means for property acquisition. As the lender, we secure the loan with a lien on the property, using the property itself as collateral.
Commercial real estate loans are typically extended to individuals who are at least partially occupying the property, whether in its entirety or with tenants in a portion of the space. If you already have leases with tenants, this can increase the property’s value and showcase your capacity to repay the loan.
For those not occupying the property, an alternative product like an investment property loan would be more suitable. This loan type is designed for individuals who own multiple properties for investment purposes but do not use them for traditional business activities.
Many of our clients own established businesses and are presented with the opportunity to acquire the property they currently occupy. For instance, a restaurant or retailer might have the chance to buy the building they operate in. Similarly, companies that previously leased warehouse or commercial space may find a favorable opportunity to purchase.
When such opportunities arise, acquiring the property often proves to be a prudent business decision. However, securing funding is essential for this type of purchase, and this is where commercial real estate lending becomes instrumental.
In certain scenarios, clients have the luxury of time to identify and negotiate a location. In other cases, the property may be in a prime location with significant interest from various parties, or it might involve a special circumstance where the property owner needs to liquidate quickly.
Regardless of the situation, our professionals comprehend the intricacies of commercial real estate. We are well-versed in the requirements for appraisals, title searches, insurance, and more. Our commitment is to collaborate with you to expedite the process and successfully close the deal.
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