IRVINE, Calif., Oct. 28, 2019 (GLOBE NEWSWIRE) -- Sabal Capital Partners, LLC, a diversified financial services firm specializing in commercial real estate, lending and investing, today announced the close of a $70 million portfolio encompassing the refinance of 17 multifamily assets located in the Bronx borough of New York. The portfolio represents five loans secured by a total of 477 rental units and was completed by Sabal’s New York-based CMBS team through the lender’s S-CRE program.
“This portfolio close reflects the efficiency of our S-CRE loan program and the talent and technology backing it,” said Pat Jackson, founder and chief executive of Sabal. “We were able to underwrite and close a $70 million portfolio for low LTV, high cash flow properties, meeting CMBS standards in just 32 days.”
Sabal’s S-CRE program is designed to enable speed to close, efficient processing and competitive fees. The program provides fixed-rate, non-recourse debt with interest-only options and offers loans up to $20 million for core commercial real estate properties in most major asset categories nationwide. S-CRE is one in a suite of Sabal’s debt programs aimed at providing robust small balance finance solutions for commercial real estate nationally.
Fifteen of the 17 assets included in the portfolio were originally funded by Sabal through Freddie Mac’s Small Balance Loan (SBL) program, as well as serviced by the lender.
“As the lender, b-piece investor and servicer, we have found our vertically integrated platform to be very attractive to borrowers,” adds Jackson. “We provide a level of service and surety of execution unparalleled in the CMBS market today.”
Jack Miller, founder and principal of Platinum Capital Group, worked closely with the undisclosed sponsor and Sabal to facilitate the deal.
Sabal’s agency and non-agency loan programs are accessible to brokers and borrowers through SNAP™, Sabal’s efficient online system that enables quick and convenient loan processing, from application through servicing. Visit www.sabal.com for details and eligibility.
About Sabal Capital Partners, LLC
Headquartered in Irvine, California, Sabal Capital Partners, LLC and its commercial real estate lending and servicing subsidiaries and affiliates are focused in the small balance lending space and have originated over $4 billion nationally through their highly specialized wholesale lending platform. Sabal strives to keep clients and investors ahead of the curve, representing a corporate philosophy based upon the core practices of innovation, partnership, commitment to excellence and entrepreneurship. Sabal’s dedication to advancing the financial services industry has led to the development of SNAP™, an innovative platform designed to optimize the lending and investment processes and enable a highly efficient interaction between Sabal and its client and investor base. Sabal is a nationally rated Commercial Primary Servicer and Commercial Special Servicer by Morningstar with a CS2 ranking. For more information about Sabal, visit www.sabal.com.
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Julie Fornaro
IDEA HALL
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