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ALBANY, NY, January 30, 2020 /24-7PressRelease/ -- CMN Funding, headquartered in Albany, NY, has announced that they have recently funded two commercial real estate deals and arranged two SBLCs.
The first of CMN's direct-funded projects was located in Albany, NY. It featured the acquisition of a retail building that includes a popular local eatery. The client received a loan amount of $401,250 at 65% LTV. CMN's second direct-funding transaction was a rate and term featuring a limited cash-out refinance of a 17-pad mobile home park in Gansevoort, NY. The client was refinancing due to an expired note & mortgage.
CMN Funding also arranged the issuance of two Standby Letters of Credit (SBLCs) for major projects in Fort Stockton, TX and Los Angeles, CA. The SBLCs, for $1,500,000 and $3,000,000 respectively, will support contractor work for a new hotel project as well as a software and entertainment development venture.
About CMN Funding:
CMN Funding, a division of CMN Real Estate Group, Inc., is a financial services company that specializes in the needs of the commercial client. Established in 2003, CMN is a full-service outlet for commercial financing whose primary focus is to obtain funding for commercial real estate transactions.
1510 Central Avenue
Albany, NY 12205
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