San Mateo, CA (Sept 23, 2016) — Redwood Mortgage, a family-owned private lender founded in 1978, announced today the closing of a $3.7 million purchase loan for a residential investment property in the San Francisco Mid-Peninsula market. Upon acquisition, the 8-unit multi-family property will undergo improvements to maintain its competitiveness in this highly desirable submarket of Silicon Valley. The purchase loan, arranged on behalf of a local property investor at a 65% loan-to-value, helped structure a strong acquisition offer with the ability to close on the seller’s desired short time frame. “The buyer wanted to present a very attractive proposal with the confidence of our 35-year, $2 billion track record, and expects to utilize long-term financing as part of the property’s repositioning program,” said Michael Burwell, president of Redwood Mortgage, who arranged the loan.
“Purchase loans with customized needs are a staple of our business, but we help real estate borrowers across the investment spectrum,” he added. “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