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Cornerstone Commercial Mortgage Media

Cornerstone Commercial Mortgage Arranges  a $4,100,000 Bridge Loan
To acquire a 20 unit motel and four cottages in
Imperial Beach, CA

Imperial Beach, CA, June 28, 2006.  Cornerstone Commercial Mortgage arranged a $4,100,000 bridge loan to purchase a 20 unit hotel, four rental cottages and a detached building on 1.04 acres located on the Silver Strand (Highway 75), in Imperial Beach, CA.   The lender provided 100% of the purchase price plus $100K cash out to the borrower.  In return for 100% plus financing the lender cross collateralized some additional property owned by the borrower.  The bridge loan allowed the borrower to purchase the property quickly (closed the transaction within three weeks) with no cash down and even pulling out $100K.  The borrower plans to sell the property to a developer to redevelop the site.

Cornerstone Commercial Mortgage acts as mortgage consultants specializing in arranging commercial real estate financing for clients nationwide.  Cornerstone Commercial Mortgage manages every detail of the loan process from start to finish and assists clients in all aspect of financing from consulting on the feasibility of a real estate development project to obtaining the right construction or permanent loan. 

Cornerstone Commercial Mortgage’s Mission is to provide our clients the best loan at the most competitive terms in the shortest time possible while keeping their best interest in mind.  For more information see our web site at www.cmlv.net or call John Lloyd at 702-379-3468.