Pioneer Financial Group, LLC recently placed acquisition financing in the amount of $1.7 million on behalf of Wigglesworth St., LLC. Managing member Sean Jasie from the Quincy, Mass. office worked with the borrower in securing the loan.
Pioneer Financial Group worked with a local bank in securing the $1.7 million loan. The borrower purchased two adjacent properties in Boston. The two properties are considered high-end rental properties. The closing took approximately 35 days to complete from request to funding.
The subject properties are located in the city. Each property offers a stone façade with manicured lawns and antique appointments. The properties are close to downtown, area hospitals and universities. Each building has three floors with a full finished basement. Each unit has four bedrooms and two and half baths. The borrowers plan on upgrading the interiors of each building.
"Our borrower needed a lender that could close quickly as their sales contract had no contingency clauses of any sort. We were able to work with one of our trusted lenders, providing crucial market data and third party reports in a timely manner, allowing them to fund quickly," said Jasie.