Office

Raffi Sarkissian secured the acquisition debt of an owner/user office building that will allow his client to relocate and expand his current operations. The Borrower was working through a technical default issue that precluded him from securing traditional SBA financing and historical cash flow did not support a loan of this size. Mr. Sarkissian identified a bank that underwrote proforma cash flow given the demonstrated increase of purchase orders, and understood the need for the expanded facility to supplement the increase of sales. Fixed at 4.75% for 10 years, the loan provides for a step-down prepayment, open after the 5th year, and was sized to 90% of the contract sale price.