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Cornerstone Commercial Mortgage Media

Cornerstone Commercial Mortgage Arranges a
 $6,000,000
 Permanent Loan
 51,506 sq.ft Self Storage Facility, Anaheim, CA 

Anaheim, CA June 30, 2008.  Cornerstone Commercial Mortgage arranged a permanent loan to take-out the construction loan on a new stabilized 51,506 sq.ft., 594 unit self storage facility in Anaheim, CA.  The construction loan matured and it could not be extended, the borrower needed a take-out loan quickly to avoid default, Cornerstone knew the right lender in this difficult lending environment to assist the borrower in closing the loan just in time to avoid default. In addition to taking out the $5,500,000 construction loan, the borrower also wanted a revolving $500,000 line of credit secured by the property.  Cornerstone was able to arrange both loans with one lender at excellent rates and terms. The permanent loan portion was a 10-year term with a 7 year fixed rate at 6.55% amortized over 30 years.

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.