Purchase commercial mortgages that meet the follow qualifications.
· Three million to five hundred million in value
· Bundled or individual paper
· Performing or non-performing properties
· Maturity date five years or less – 1 to 3 prefered
The purchase price of the commercial mortgage paper will vary depending on the rate of return required by the buyer and the quality of the property.
Closing can occur within approximately three weeks after all necessary documentation is received.
The following documentation must be received for the initial review to be completed. Additional documentation may be required.
· Copy of Commercial Mortgage Paper
· Right up of current states on each property
1. PurchasIing US Commercial Mortgage Paper only.
a. Los Angelas basin area PREFERED.
b. If the property is not located in LA area, properties in MAJOR US METROPOLITAN markets will be considered.
2. It can come from Freddie or Fannie, banks (public or private), corporations or individuals.
Banks are prefered, standard mortgage packages readily available.
3. Looking for a combined annual COMBINED yield of 20%.
4. Maturity on the note to be 5 years MAXIMUM or under with sufficient discount on the paper to make the desired yield. One to Three years maturity would be prefered.
5. NO CMOs, NO RESIDENTIAL, etc.
6. The following product types are the ONLY those which will be considered:
a. Apartment Buildings (prefered above all).
b. Office Buildings.
c. Multi-tenant Industrial Parks.
d. Retail Complexes.