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Posted: July 25, 2023
Hach of Refined arranges two commercial mortgages
Brooklyn, NY Joe Hach, partner at Refined, recently arranged two commercial mortgages.
The first transaction, a $10.5 million bridge loan, was collateralized by two rent-stabilized multifamily properties. The borrower was facing active foreclosure, and Hach successfully negotiated a discounted payoff with the previous lender in order to facilitate the transaction. This impressive outcome validates Refined's commitment to find creative solutions that ensure the financial well-being of our clients.
The second transaction involved securing a $5.755 million mortgage for two properties. One, a mixed-use retail office property situated in the Union Square area, and the other, a multifamily property in Queens, NY. Despite significant income coming from commercial tenants, Hach structured a loan with a 30-year amortization and a flexible prepayment penalty. This transaction exhibits our adaptability and ability to provide comprehensive financing solutions across diverse property types.
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