Au of Brick Capital Group arranges $2.48 million mortgage

Jason Au, director of finance of Brick Capital Group, arranged for a local lender to fund a $2.48 million mortgage for the purchase of a commercial property. The collateral consists of six retail stores located in the Briarwood section of Queens Blvd. The loan amount represents 75% of the purchase price and is for a 5-year term, 30-year amortization with interest at 4%. Au was able to negotiate the prepayment of the loan anytime without penalty and facilitated the closing within the borrower's 30 day "time of the essence" closing requirement.