Our returning clients were ready to secure an office building loan. This group of partners regularly purchase a variety of commercial real estate properties. They had already done their research. As a result, when they engaged GRP Capital, they were completely ready for us to find the financing that was the right fit.
GRP Capital Managing Director Krishan Patel commented, “We know this client group well. We have now closed several loans with them. As a result, we have many of the documents that were needed in our system, which streamlined the process and shortened the timeframe. We refinanced their loan, bringing down their mortgage payments, which improved cash flow and freed up capital for other projects.”
Are You Looking for An Office Building Loan?
• Research the building: Check out the makeup of the tenants, the occupancy rate and how long the tenants have been there. What is the typical rent? How long are the existing leases?
• Compare the actual building to office space nearby: How does this building compare to other competing office buildings? How well have the current owners maintained the property? How do the common areas look relative to other locations? What’s the traffic pattern to approach and leave this building? How do the rental rates stack up against comparable properties?
• What’s Your Goal? Is this an underperforming property that you can turn around? Are you looking for steady rental income? Are you looking to upgrade and flip the property with a short term time frame? GRP Capital wants to understand why you need financing. What are your business goals? Why do you think this is the right time to secure an office building loan?
Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.