Artes Capital recently closed on a $4,050,000 acquisition loan for an industrial property. The firm’s sponsor-first lending strategy ensured its delivery of a bank-quality loan in a scenario that would deter other lenders.
The borrower had initially obtained a loan approval from a traditional bank. However, just two weeks prior to the hard closing date, the bank informed the borrower that it needed more time to close. The borrower found themselves needing a quick solution and, knowing of Artes Capital’s reputation for certainty of execution, they reached out to Artes seeking assistance.
Artes Capital stepped in and worked with the borrower to provide a 52% LTV/LTC loan in less than two weeks, thus saving the deal on a property purchased well below market value. The fact that the borrower was a repeat client allowed Artes Capital to move quickly in response to their unique needs.
The sponsors provided full recourse and the borrower plans to pay off the loan within 90 days. The borrower’s certainty that Artes Capital would perform made the terms highly favorable.
The borrower in this transaction had a proven history of creditworthiness and performance in similar projects, making them an ideal loan candidate. According to Artes Capital Founding Principal and COO Michael Jin, “Whether it’s anonymity, certainty in execution, working around a specific risk, etcetera, we help those with history — the opposite of the transactional approach.”
Artes Capital’s success in real estate finance flows from trust, collaboration and partnership. The firm’s experienced team manages each transaction from initial inquiry to loan payoff. Artes Capital is a balance sheet lender and maintains control of its loans throughout the entire credit lifecycle, assuring responsive and positive outcomes for borrowers. Sponsors/borrowers consistently work with Artes Capital because they know the firm will be there to support their needs long into the future.
See the difference a personalized approach to real estate finance makes. Contact Artes Capital at: (818) 913-9247 or info@artescapital.com.