DELRAY BEACH, FL - Gelt Financial, a leading commercial real estate direct lender, today announced the closing of a $3MM first mortgage on a 152-unit multifamily community called Crown Pointe Apartments in Columbus, Ohio.
The company provided a two-year loan on the non-stabilized property, which is in the latter stages of a complete repositioning. The loan proceeds will go toward the completion of needed property improvements and allow the borrower time to season the property.
“Gelt Financial is uniquely positioned to support lending transactions in the $1MM-$5MM range,” said Noah Miller, Vice President of Gelt Financial. “We pride ourselves on our nimble business model and ability to close loans for borrowers in tight timeframes.”
As part of the company’s robust growth strategy, the company plans to close an additional $15MM in non-stabilized property loans by the end of 2020.
To learn more about Gelt Financial’s lending capabilities and the advantages it offers to commercial real estate owners and investors across the U.S., please visit www.multifamilyloans.co. Noah Miller can be reached at 561-221-0900 ext. 216 or NoahMiller@GeltFinancial.com.
About Gelt Financial: Gelt Financial is a non-bank commercial real estate lender, which has closed more than 10,000 loans totaling over $1 billion, since its founding in 1989. Gelt focuses on providing debt to non-bank borrowers on all types of commercial real estate, including but not limited to multifamily, office, retail, warehouse, industrial, self-storage, and mixed use.