Pioneer Financial Group, LLC recently placed permanent financing in excess of $1.7 million on behalf of one borrower. Managing member Sean Jasie worked with the borrower in securing the loans through a local bank.
A trusted client of Pioneer Financial Group refinanced two multifamily properties located in Boston. Both properties were purchased three years ago and underwent extensive renovations. The renovations included new floor plan layouts, upgraded kitchens and baths, as well as, exterior updates. The client wanted to refinance the existing higher interest rate notes, as well as, recoup some of the renovation money initially invested - the real key to the transaction.
One of the properties is 11 Burney St., a three-unit building. Each unit is 1,500 s/f with three bedrooms and two baths. Parking is included, the owner has a lot directly adjacent to the subject property. The second property is located directly behind the Burney St. property. It is also a three-unit building comprised of two 4-bed units and one 5-bed unit. Each unit is 2,000 s/f.
"Some of our clients require creative financing provided by lending sources that understand the value creation component and can move quickly while market fundamentals are still in line. We are lucky to have a handful of lending sources that can provide this creative financing," said Jasie.
Pioneer Financial Group is a commercial finance company headquartered in Quincy, MA that offers brokerage, consulting, appraisal and insurance capabilities to commercial clients in need of financing.