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United Security Investors Funds Bridge Loan in Two Weeks, Enabling Beverly Hills Real Estate Owner to Complete Business Plan and Retire Private Money Debt with Conventio

January 22, 2014

Beverly Hills, CA (PRWEB) January 22, 2014 Private lender United Security Investors (USI) shares another success story, this time the funding of a bridge loan in under two weeks, providing the owner of a 15,000 square foot mixed use retail/office project located in the heart of the Beverly Hills Triangle with sufficient capital to build out his Tenant Improvements, fully lease up his property, and secure conventional financing on the takeout loan. Commercial real estate owner Albert Ahobim did not have to look far for a lender that understood his business needs. United Security Investors , located just across the street on Canon Drive in the heart of downtown Beverly Hills , quickly understood what Ahobim needed. “It was clear Albert had a class A building in a class A location, but needed a small bridge loan to complete his TIs [tenant improvements] to get the building fully leased up,” says William “Tripp” Nassour III, Managing Director of United Security Investors , who led the deal. “Conventional lenders wouldn’t touch it until the second floor was built out and leased.” “Tripp is a consummate professional, who understood my vision, what I was trying to do, and recognized that I was a strong borrower with a strong history of delivering what I said I would. USI delivered everything they promised they would, including getting me funded on a very short time line,” says Mr. Ahobim, who completed a ground up re-development on the property at 338 N. Canon Dr. in 2007, after successfully running a prominent retail wine store on the site for almost ten years before. “Albert got the funds he needed quickly, the entire 2nd floor got leased based on Albert’s vision and the successful build out financed by USI’s loan, USI investors got about a 13% return on their money, and Morgan Stanley refi’ed us out a little over 12 months later” to lower Ahobim’s cost of capital. “It was a win all around,” says Nassour. USI saw an opportunity where most conventional lending institutions would not, or could not. With the ability to move quickly, coupled with an impeccable reputation for delivering when it commits to funding a project, USI made the $500,000 second Trust Deed loan on the property after a swift yet thorough underwriting process which conservatively valued the property at $9.45 million . As a result of the buildout, all 21 of the private suites were leased in the newly created Salon 90210 within a span of only three months. Conventional lenders suddenly became interested in lending on the property, competing aggressively to take out the USI bridge loan. The property ultimately appraised for $11 million , more than $1.5 million above the internal valuation USI came up with. “The $11 million valuation exemplifies and validates our underwriting process, which is to err on the side of conservatism,” says Evan Frank , Managing Director of Operations at USI. “Our goal first and foremost is the preservation of investor capital. Investors entrust us with their capital and we look after theirs the same way we do our own. This isn’t just a mission statement, it’s how we actually do business. Our own money goes into, and stays in, these deals alongside our investors’.” In addition to managing third party investor capital, the principals at United Security Investors utilize their own capital by investing alongside their investors in every deal they do. “As far as the underwriting process,” Mr. Frank continued, “we try and ask the tough questions, play devil’s advocate. We never fund a loan without thinking through how we would recoup our investors’ money (and our own) should we ever have to take back the property [through a foreclosure],” Mr. Frank added. “What makes us different than most folks in the private lending space,” says Mr. Nassour , “is that we use our own capital in every deal, so our interests are always aligned with those of our investors.” About United Security Investors United Security Investors (USI) is a private lender whose principals have more than 45 combined years of experience in the real estate industry. In addition to USI deploying its own capital alongside that of its investors, USI differentiates itself by applying its intricate and local knowledge of the areas in which its lends, allowing it to achieve an unparalleled 52 consecutive months of positive returns for its investor base. The USI team prides itself on repeat lending opportunities from its borrower clientele by providing the agility and responsiveness that its borrowers have come to expect. About Salon 90210 Salon 90210 represents the next generation of salon environments. Located on the second floor of 338 N. Canon Dr. , in the heart of Beverly Hills , Salon 90210 offers a more private experience where clients enjoy their services in private suites. Within all the independent suites, Salon 90210 offers all one could want for all their salon needs in Beverly Hills . Read the full story at http://www.prweb.com/releases/2013/11/prweb11363629.htm


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Source: PR Web


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