South End Capital Funds a $900,000 Multifamily Blanket Loan at 6.875% and a $325,000 Chicago Mixed-Use Cash-Out Refinance Loan in 18 Days

We are pleased to announce the recent funding of a $900,000 Multifamily Blanket loan. We paid off back taxes and funded over $102,000 of unrestricted cash-out at closing. Our new mortgage was secured by two contiguous 8-unit multifamily properties in Long Beach, CA. This was a low doc. loan with a 5 year fixed rate at 6.875%, amortized over 30 years.