$1,200,000 Owner Occupied Purchase Loan Closed

513 Capital, a Cincinnati-based finance intermediary, is pleased to announce the closing of a $1.2MM Owner Occupied Real Estate Purchase Loan.

The owners of a fast-growing online boutique occupied an industrial/office/warehouse space that was in a land contract arrangement with the previous owner. They were also contracted to purchase another building next door to expand. 513 Capital was able to arrange financing, which paid off the remainder of the land contract, provided purchase funds for building next door, equity recapture funds for renovations made, and working capital. The loan is a fully amortized 25-year deal at a fixed rate of 7.1%.

The loan was arranged the a local community bank of Cincinnati.

513 Capital specializes in bank, SBA, CMBS, and private commercial real estate funding.

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