Another Successful Real Estate Financial Restructuring Completed
HUNTINGDON VALLEY, Pa. and FORT LAUDERDALE, Fla., Oct. 14, 2013 /PRNewswire-iReach/ -- GFCIB and Advisory, LLC a nationally recognized financial real estate advocate and advisory firm for commercial real estate owners, developers, builders and mid sized businesses announced that it has once again successfully restructured a self-storage center and retail shopping center loan for a client located in the Suburbs Chicago.
The original lender was owed 2.6m on the real estate. Unfortunately,the asset was underwater and GFCIB was able to establish the true value of the collateral,it's short term and long term prospects and convinced the bank that it as well as the client would be better off if it provided a sizable discount to the existing note to avoid taking the asset into Real Estate Owned or prolonging the process by a Chapter 11 Bankruptcy filing.
GFCIB's also procured a new extension of credit for 1.7m, thought a discounted note purchase financing for the client enabling the client to retain the asset,payoff the bank and feel confident that the cash flow associated with the asset in the future will be more than enough able to cover the new debt.
This win/win scenario for both the lender and the client is what GFCIB strive for each and every day. In fact not only were we thanked my our client, but the bank as well.
Protecting, advocating and satisfying the needs and desires of our clients one at a time.
For additional information contact:
215-947-2974 ext 237
Media Contact: Jack Miller, GFCIB and Advisers, LLC, 5618520153, JackMiller@GFCIB.COM
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SOURCE GFCIB and Advisers, LLC