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Sourcing And Seasoning Assets. Seasoning of Ownership!
This particular problem will not be relevant to all business borrowers. However, if it is relevant, you should seek out a lender without sourcing and seasoning requirements or limitations. Most banks have strict guidelines for sourcing and seasoning of assets or ownership to qualify for commercial real estate loans. For a purchase, commercial lenders will frequently want documentation about where the down payment is coming from (sourcing). Commercial lenders will also frequently have very specific requirements stipulating that the funds must have been in a specific account for a specific period of time, often 3-6 months or longer (seasoning). Seasoning of ownership is similar to seasoning of funds, except this requirement involves the minimum time someone has owned a commercial property before they can refinance the property.
Morgan Properties Solidifies Position in Multifamily Credit
– costar.com/News
Morgan Properties, owner of 150 apartment communities with more than 45,000 units across the U.S. Mid-Atlantic and Northeast, took another step into the bond credit markets, extending the trend of some of the nation's largest apartment owners jumping into debt purchases…
Bezos: Amazon Team 'Working Its Butts Off' to Decide on HQ2 Location
– costar.com/News
Jeffrey P. Bezos, Amazon founder and chief executive, did not tell people what they wanted to hear Thursday night.
The e-commerce billionaire didn’t have an announcement about where Seattle-based Amazon plans to locate its so-called “HQ2,” a second headquarters, during an interview before an audience of roughly 1,550 people at a dinner…
Hilton Foundation Snags Dole Food Headquarters for $50 Million
– costar.com/News
Conrad N. Hilton Foundation bought the headquarters building of Dole Food Co. for $50 million in a deal that marks the latest divestiture as the fruit and vegetable producer tries to reduce debt, which reached $1…
Jemele Hill confirms that she's leaving ESPN
– rss.cnn.com
