ValueXpress Provides SBA 504 Loan for the Acquisition of an Office Building in Florida

ValueXpress closed a $600,000 first-mortgage loan in conjunction with a $240,000 SBA 504 second-mortgage loan utilized to acquire and renovate a 3,000-square-foot former single-story residential property into office space. The property is located on the East Coast of Florida and a property appraisal company is expanding into the space. “The borrower owns the adjacent office building, and we arranged a simultaneous cash-out refinance to provide the equity to purchase the subject property,” commented Michael D. Sneden, Executive Vice President of ValueXpress. The transaction featured a waiver of the 0.5% SBA fee and other CDC fees.

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This entry was posted in Michael D. Sneden, The Banker's Mortgage Conduit, Valuexpress. Bookmark the permalink.

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