New guidelines for property listings on the Gomberg Report
We are making two major changes to the guidelines for eligible listings.
First, we will be adding Retail, Office and Industrial properties. Our new Conduit Style Loan Program offers an excellent option to finance these type of properties*. Loan sizes go up to $10M so we have properties priced up to $12M.
Second, we are only going to list properties that have at least 85% occupancy levels. Properties with lower occupancy rates would not be eligible for most of our acquisition financing programs. These properties are harder to finance and would probably need to use our Bridge Program.
We compile these low occupancy listings in-house, so if you are looking for a rehab project please contact our office directly.
* The gross multiplier will be higher than apartments. Most commercial tenants pay some reimbursements towards taxes, insurance, utilities, etc. This is not included in the gross income figures.