CMN Funding, headquartered in Albany, NY, has announced that they recently funded two commercial real estate deals from their direct lending programs and arranged financing on two additional real estate closings.
ALBANY, NY, June 16, 2018 /24-7PressRelease/ — CMN Funding, headquartered in Albany, NY, has announced that they recently funded two commercial real estate deals from their direct lending programs and arranged financing on two additional real estate closings.
The first of CMN’s funded projects, located in Warrensburg, NY, featured a refinance of two income producing properties. The client received $330,000 to yield cash-out proceeds which paid off private note holders and allowed for a capital restructure. The second direct loan was a retail property located in Loveland, CO. The refinance provided $230,000 towards a partnership buyout and some minor property improvements.
One of CMN’s arranged closings took place in Glens Falls, New York, where $1,507,500 was procured for the acquisition of a portfolio of four rental properties with a total of 34 units. The other financing that was obtained was for a loan amount of $370,000. The subject property was an investment condo located in Panama City, Florida that was a refinanced to pay all property debts and pull some cash out for future investments.
About CMN Funding:
CMN Funding, a division of CMN Real Estate Group, Inc., is a financial services company that specializes in the needs of the commercial client. Established in 2003, CMN is a full-service outlet for commercial financing whose primary focus is to obtain funding for commercial real estate transactions.
1510 Central Avenue
Albany, NY 12205
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