Commercial Mortgage Brokerage
Over the years mortgage brokerage has evolved. As recently as the early 1990’s borrowers knew their local bankers very well, but the commercial real estate lenders were based in New York and Atlanta and rarely came to the markets on business development trips. Today, all lenders make regularly scheduled trips into the field to meet with borrowers directly. In this new environment the mortgage broker’s role has changed. Today the broker needs to have the relationships to get a loan request to the top of a lender’s stack and then get that lender to finish the deal on the agreed upon terms.
One of our most difficult assignments was originating the construction loan for the Commerce Bank Building in Coral Gables, FL. At the time we originated the transaction - the mid-1990's - the market had not yet recovered from the recession of the early '90's. Even under those circumstances we were able to secure a construction loan for the 100% speculative to-be-built office building.
Sandstone has the market knowledge and relationships to get a loan sized and priced quickly and get the loan closed under the agreed terms. For Highland Beach Club, Sandstone brought General Electric Credit Corp. to the table and closed in less than one month. We get the job done for our clients.