MCC Funds $5.4M for Several National Projects

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Florida Real Estate Journal
September 16-30, 2008

Contracts

Mercantile Funds $5.4M for Several National Projects

Altamonte Springs – Mercantile Commercial Capital LLC recently closed five commercial loans that totaled $5,436,051.

One of the loans, which totaled $1,064,250, will finance the acquisition and renovation of a 7,600sf industrial facility in Anchorage, Alaska. Dynamic Energy Group LLC, an electrical contractor and satellite television installer, borrowed the funds on a 25-year, fully-amortized term with a below-market, five-year fixed interest rate and only 10% down.

Other commercial loans included:

- $1,482,801 to Apple Hostels of Philadelphia LLC to acquire and renovate a three-story, 8,479sf hostel facility with a 25-year, fully-amortizing term and a below-market five-year fixed interest rate with 10% down.
- $495,000 to Higgins Sport & Lawn Inc. to develop and build a 4,500sf industrial facility in Syracuse, Ind., with a 25-year, fully-amortizing term and a below-market, five-year fixed interest rate with 10% down.
- $1,809,000 to Curran Martial Arts Academy Inc. to acquire a 24,000sf martial arts academy in Crystal Lake, Ill., with a 25-year, fully-amortizing term and a below-market, five-year fixed interest rate with 10% down.
- $585,000 to Radiant Lighting Services Inc. to acquire and renovate a 6,352sf industrial facility in Westminster, Colo., with a 25-year fixed interest rate with 10% down.