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CIRE Magazine

Editor's Picks

by Beth Mattson-Teig
by Patrick H. Ford
by Rich Rosfelder
by Bill Humphrey and Catherine Wynne
by Jennifer Norbut

Poll

What is the greatest challenge facing your commercial real estate market in 2014?

Deal Makers

When looking for financing on behalf of a 1031 exchange buyer with a tight timeline, Federico Rochwerger, CCIM, of Keyes Commercial in Boca Raton, Fla., turned to his CCIM network. “I posted a Mailbridge message and received an email from Parker Briley, CCIM, within minutes,” Rochwerger says. Briley, of Willow Bend Commercial Capital in Dallas, brought a local lender to the table that provided the $1.7 million in financing needed to close the $2.5 million sale of the 9,451-sf Golden Corral in Richardson, Texas. The deal closed in only 29 days with a 7-year term at a 5 percent fixed rate and a 25-year amortization with 15 years remaining on the lease term. The loan-to-value ratio was 68 percent. “Parker brought the most aggressive and compatible lender to the table,” says Rochwerger. “This was a very complex transaction — something a CCIM would know how to handle.”

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