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The F-Tranzacts Group Provides $27.8MM Loan for Mixed-use Boreum Hill Development

September 28, 2022, 08:03 AM
Filed Under: Real Estate

NewEmpire Real Estate Group received $27.8 million in bridge financing for its condominium development. The one year bridge loan was provided by The F-Tranzacts Group and will be used to refinance a $22.1 million loan provided by Cathay Bank in June 2020. The loan has a minimum guaranteed interest period of four months, which will enable the borrower to act quickly on obtaining construction financing, said Robert Marshall, the managing director at The F-Tranzacts Group. Historically,  The F-Tranzacts Group has seen a concentration of lending activity in the Bay Area while expanding its national footprint each year. This past month was no exception, with a majority of loans secured by San Francisco real estate collateral and additional real estate collateral located in Pennsylvania, Illinois, North Carolina, and Florida. Transactions included the refinance of a mixed-use building in the SoHo neighborhood of Manhattan, an acquisition and building loan in Palo Alto, and an acquisition loan secured by a waterfront development in Mountain View.

The F-Tranzacts Group is a direct portfolio lender originating commercial bridge loans. They provide short-term financing secured by a first mortgage on commercial real estate. Their open-door lending platform allows us to deliver fast and flexible loans tailored to the specific needs of each client. Capital is available for acquisitions, refinances, repositioning and other market driven opportunities.

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