Freedom Financial Funds, a leading provider of commercial real estate financing solutions, is pleased to announce the successful closing of a $5.9 million build-to-suit construction loan for a single tenant medical office located in Jacksonville, Florida.
The loan was made to an entity controlled by a national retail and single tenant developer with a
37-year track record of success. It was structured as a 15-month loan with two 6-month extensions. The borrower chose Freedom Financial Funds (“Freedom”) due to their outstanding reputation and competitive terms and conditions.
Prior to working with Freedom, the borrower was experiencing challenges with their previous lender, particularly with obtaining timely disbursements. After extensive due diligence and a productive meeting with the Freedom team, the borrower was impressed by the professionalism, efficiency, and competitive offerings presented by Freedom.
Freedom Financial Funds provided the borrower with 80% loan-to-cost (LTC) financing, ensuring sufficient funds to cover the construction costs of the single tenant medical office. The loan terms included pricing of 11.49% plus 2 points.
“We are thrilled to have provided the financing solution for this build-to-suit construction project in Jacksonville,” said Michael Klein, Principal & CEO. “At Freedom, we pride ourselves on delivering exceptional service and competitive financing options to our clients. We are delighted that our borrower appreciated our deep industry experience and commitment to timely disbursements, and found our terms and conditions highly competitive.”
The successful closing of this transaction has fostered a positive relationship between the borrower and Freedom, with discussions already underway for potential future transactions.
About Freedom Financial Funds:
Freedom Financial Funds is capital solved. As an unleveraged and fully discretionary fund, Freedom offers real estate loans ranging from $2 million to $15 million for most property types across the Western United States.
Freedom does not have “programs;” instead they customize each loan to meet the client’s individual goals and objectives. All underwriting is internal, without the need for appraisals, and every loan is managed directly by a principal of the fund.
Freedom evaluates the people, the credit, and the real estate (in that order) behind each opportunity. More than 80% of percent of their annual production is repeat business with long-term relationships that value this approach.
For more information, please visit our website at www.freedomfinancialfunds.com.