NATIONAL FOOTPRINT

Backed by a century’s worth of knowledge and expertise, Cronheim Mortgage provides a vast array of real estate services, including debt and equity for investment grade real estate. By leveraging the strong correspondent and/or servicing relationships we have cultivated with our institutional investors, including many insurance companies, we have continuously had access to substantial debt and equity capital to invest in quality real estate at pricing well below alternative sources, especially for long-term debt. We stand out from our competitors with our strong debt servicing portfolio, currently in excess of $2,000,000,000.  Moreover, through our Channel Real Estate Funds affiliate, we have efficiently and cost-effectively provided mezzanine and equity capital for numerous real estate assets. We have placed debt/equity and serviced in 30 states, and continue to capitalize on new opportunities.

REPRESENTATIVE TRANSACTIONS

To view more of our hospitality representative transactions, please visit our hospitality branch, CRONHEIM HOTEL CAPITAL, at http://www.chccapital.com/

Cronheim Secures $11.6MM Loan for Best Buy Distribution Facility



Cronheim Mortgage secured cash-out refinancing for a 709,000-sf warehouse and distribution facility fully occupied by Best Buy. The 5-year loan was locked at a rate of 4.32%.

The property is located in Staunton, VA just off I-81 and serves as one of Best Buy's seven national distribution and fulfillment centers. Best Buy has occupied the property for over 20 years and had just renewed its lease for five more years.

While Best Buy had just renewed, this is a huge single-tenant industrial building in a tertiary market tenanted by a company which has been under a lot of pressure over the past couple years. In order to get this cash out financing done, Cronheim needed to substantiate 'dark' value to convince the lender that their hangout risk was acceptable in order to achieve an optimal outcome.

 

© 2018 by Cronheim Mortgage. Proudly created by FedUp Digital.

  • Cronheim Mortgage LinkedIn