KSI Capital participates in a $2.5 Million Loan for Purchase of Florida Sunoco Station*
Paramus, NJ, April 05, 2005 â€” The Southgate Sunoco gas station, car wash, and convenience store in Tamarac, Florida was under contract, the closing date was quickly approaching, and only a fast loan of $2.5 million made it possible. KSI, a direct private lender based in Paramus , New Jersey , overcame the obstacles of an urgent time frame, environmental conditions, and a complicated financing structure to complete the deal.
The Southgate Sunoco is centrally located in Tamarac , a prime location in Broward Country that is considered part of South Florida 's business and cultural renaissance. The city of Tamarac , with a population of close to 60,000 people, was designated a "Millennium Community" by the White House and was named one of America 's most livable cities by the U.S. Conference of Mayors. National and regional companies such as Convergys, Culligan Water Bottling and City Furniture are moving their corporate headquarters to Tamarac , bringing jobs and investment capital to the community.
When South Gate Partners, LLC, sought to make the purchase, they needed to assemble a financing package. The seller was Rolex replica willing to finance $900,000 and the partners could produce upwards of another half million dollars, but that meant they needed additional capital, and KSI became the source. Under serious time constraints, and faced with the environmental issues that often surround gas stations, KSI thoroughly evaluated the deal and came up with $2.5 million, accepting three other properties from the buyers as additional collateral.
While Cushman and Wakefield estimated the disposition value of the real estate at only $1,400,000, KSI came up with a loan of $2.5 million. Through the experience of Hanan Haskell, KSI made a determination as to the full potential of the property. KSI looked at the solid income and expense figures, additional services offered and knowledgeable management and made the decision to deliver the funds. Coming up with more financing when others fail is one of the things KSI does best.
KSI has a standard policy of careful evaluation based on the quality of the collateral and inherent value of the project or business. Their quick, precise appraisals and ability to issue loan commitments in as little as 24 hours result in quick closings, often in just 2 weeks. Their speed and expertise has meant that an increasingly wide range of borrowers, from land-use developers to resort builders, entrepreneurs, and major Louis vuitton outlet businessmen, have turned to KSI to arrange for financing from $1 million to $100 million and more.
While specializing in commercial real estate loans, their scope of funded projects also includes amusement parks, high-profile golf courses, TV and radio stations, airlines, and sports complexes, among others. KSIâ€™s established reputation has seen them manage everything from the most complex of financial transactions to simple acquisitions, workouts, refinancing, bankruptcies, and foreclosures.