Tiller Hill Capital has closed a $1,760,000 loan for the acquisition of a 43 unit multi-familyproperty in Porterville, CA. Financing challenges included significant deferred maintenance, tertiary market location and a tight timeline dictated by a 1031 exchange. Local lenders were offering only short-term fixed rate financing with rates over 5%. We arranged a 12-year fixed-rate, non-recourse loan with a interest in the low 4’s and closed in time to satisfy the 1031 exchange.
Tiller Hill Capital has closed a $700,000 commercial real estate loan on a mixed use property in Redwood City, CA. The property is owner-occupied and includes retail space on the ground level and office space and an apartment upstairs. A new 5-year fixed rate loan with a 25 year amortization was arranged that retired existing first and second lien financing.
Tiller Hill Capital closed a $1.2M refinance of a 14 unit apartment property located in Hayward, CA. The new financing provided a 10-year fixed rate of less than 4% on a 30 year amortization, allowing the owner to improve cash flows and lock in today’s low rates.
Tiller Hill Capital has closed a $1.84M Refinance of an owner-occupied light industrial property in Santa Cruz. The refinance enabled the property owner to lower there monthly debt service considerably while also consolidating business and property debt.
Tiller Hill Capital has closed a $924,000 commercial real estate loan to refinance a two unit dental office property in Palo Alto, CA. The owner wanted to lock in today’s low rates for a as long as possible. We delivered a low mid 4% rate loan fixed for 15 years.
Tiller Hill Capital has closed a $950,000 commercial real estate loan package for the acquisition of a mixed-use property in Fremont CA. The borrower is the current tenant of the commercial portion of the property, operating a bar specializing in craft beers. The property includes both commercial and residential structures. The commercial real estate loan enabled the borrower to acquire the mixed-use property at an attractive price with minimal down payment.
Tiller Hill Capital has closed a $1.2M loan secured by two single tenant properties under NNN leases in Oakland. One of the buildings is occupied by a restaurant, the other a beer garden. The refinance allowed the owner to retire an existing note that had come due and replace it with lower cost financing, fixed for five years.
Tiller Hill Capital has closed a $1.95M loan secured by two commercial buildings in Oakland. Both buildings are single tenant under NNN leases, one a bank and the other a restaurant. The refinance allowed the owner to retire non-related debts, lock in an attractive current rate and maintain flexibility to allow for future redevelopment of the properties.
Tiller Hill Capital has closed a $1,000,000 refinance of a 17 unity apartment property in Oxnard CA. The refinance allowed the owner to lower their interest rate and monthly payment and to take cash out for other investments. Rates were fixed in the mid 3’s for 5 years on a 30 year amortized loan with a declining prepay penalty.
Tiller Hill Capital has closed a refinance of a Fresno apartment property. The refinance allowed the owner to lower their interest rate and to take cash out to make another investment. Rates were fixed for 10 years on a 30 year amortized loan with a declining prepay penalty. Many lenders are still not making loans in Fresno and other central valley areas. However, Tiller Hill Capital was able to secure financing that achieved the owners objectives.