CMN Funding, headquartered in Albany, NY, has announced that their 3rd quarter transactions included the recent funding of one commercial real estate property and the arrangement of funding for two others.
ALBANY, NY, October 10, 2019 /Neptune100/ — CMN’s direct funded project featured a loan amount of $476,000 towards the complete rehabilitation of an 18-unit apartment building located in Indianapolis, IN. CMN was able to procure 80% loan-to-cost financing for the project.
The first of CMN’s arranged closings took place in Chicago, IL. The client received $2,500,000 in preferred equity towards a buy-out of a vacant building located in the heart of Wrigleyville. The second phase of the project, which entails the construction of a multi-use commercial property, will feature the inclusion of a popular chain restaurant on the first floor.
Finally, the second of CMN’s arranged financing projects was for the purchase of a 6-unit, fully occupied, apartment building located in Amsterdam, NY. The total loan amount procured was $217,500. The client received long-term financing at extremely competitive rates complete with a small seller concession.
About CMN Funding
CMN Funding, a division of CMN Real Estate Group, Inc., is a financial services company that specializes in the needs of the commercial client. Established in 2003, CMN is a full-service outlet for commercial financing whose primary focus is to obtain funding for commercial real estate transactions.
1510 Central Avenue
Albany, NY 12205