 |
 |
|
 |
Venture West Funding Arranges $15.7 Million Financing Package
El Segundo, Calif.-(BUSINESS WIRE) – October 21, 2004--Southern California-based Venture West Funding, Inc. announced it has arranged a $15.7 million loan package involving three apartment buildings located in the San Fernando Valley area of Los Angeles. The apartment buildings contain 230 total units and are valued at more than $21 million.
Pete Collins of Venture West arranged the financing with three different mortgage lenders. Mr. Collins commented, “My client was in escrow to purchase a 160-unit building that had a hard closing date. To finance the acquisition, I arranged for the refinancing of two of his buildings, in which nearly $3.0 million of cash proceeds were generated and the interest rates on his new loans were reduced by over 2.50% compared with his preexisting loans. My established relationships with each of the three lenders ensured that the refinancing and purchase loans could close within the required timeframe, and that my client’s purchase would be completed.”
Venture West Funding, Inc. is a full-service mortgage brokerage firm that specializes in apartment, commercial real estate and residential financing and provides every client with highly personalized guidance, tailored mortgage solutions, and efficient and effective service. The firm has headquarters at 2101 Rosecrans Avenue, Suite 1225, El Segundo, CA (310-364-3131) and an Orange County office at 9 Executive Circle, Suite 200 in Irvine (949-475-5573).
CONTACT: Venture West Funding
Pete Collins
Business (310-364-3131 x234)
Fax: (310-943-2116)
PeteC@ventwest.com
www.venturewestfunding.com
or
Santley Associates
Tom Santley
Phone or Fax (626) 441-4594
tsantley@socal.rr.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BANKING REAL ESTATE
SOURCE: Venture West Funding
|
|
|
|
