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Cornerstone Commercial Mortgage arranged a $4,950,000 Acquisition/Construction Loan for a 22,000 sq.ft. spec. retail building in Las Vegas, NV

 Las Vegas, NV, May 23, 2007.  Cornerstone Commercial Mortgage arranged a $4,950,000 construction loan to build 22,000 sq.ft. of multi-tenant 100% spec. retail space in a  neighborhood center located across from a Home Depot shopping center in Las Vegas, NV   The borrower needed to close on the purchase of the land prior to finishing the entitlements, Cornerstone was able to arrange a 90% loan to total cost that included the purchase of the land.  The lender funded 70% of the land cost at acquisition and recognized imputed land equity as part of the overall 10% equity required, thus minimizing the borrowers actual cash contribution.

Cornerstone Commercial Mortgage acts as mortgage consultants specializing in arranging commercial real estate financing for clients nationwide.  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.