San Mateo, CA (June 23, 2016) — Redwood Mortgage, a family-owned private lender founded in 1978, announced today the closing of $7.5 million ‘blanket’ loan addressing multiple objectives for a foreign entity borrower. The properties include mixed use commercial condominiums in Silicon Valley and a high end residential asset in the San Francisco Peninsula that is currently listed for sale. Arranged by loan officer Tim Burwell, the Redwood Mortgage loan was for the restructuring of debt and freeing up of capital for diversifying into investment in a Southern California commercial property.
“This complex, time-sensitive blanket loan is actually one of our bread-and-butter transaction types. Our execution on behalf of the borrower exemplifies Redwood Mortgage’s flexible, nimble service to clients for over three decades,” said Steve Belleville, Director of Sales and Marketing. “We specialize in opportunity-capital in real estate lending, where borrowers have a particular need or challenge that typical lenders often can’t accommodate.”
About Redwood Mortgage
Founded in 1978, Redwood Mortgage is a second-generation family-held firm with over 35 years of experience in arranging and funding mortgage loans in California. Based in San Mateo, CA, Redwood Mortgage has arranged nearly $2 billion in loans and currently manages assets of over $275 million. Redwood Mortgage provides tailor-made funding solutions secured by residential investment, multifamily and commercial properties. The firm differentiates itself from traditional lenders with its single level of decision-making, no prepayment penalty on loans, its long-held expertise in commercial loan transactions and its in-house document production and funding. For more information, visit www.redwoodmortgage.com