18A — March 29 - April 11, 2013 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal
www.marejournal.com
M ULTIFAMILY -POA
Ready to finance projects up to $4.5 million Regal Bank is a local force in multi-family lending community
R
egal Bank is quickly establishing a reputa- tion in northern New
“We are fairly well known in the marketplace for our competitive pricing, profes-
million range. Today, we are ready, willing, and able to lend qualifying investors up
tomer service becomes a big determining factor. Investors who choose Regal Bank get the options and service they deserve,” Howland contin- ued. “As a smaller, commu- nity-based bank, our loan process is simplified. If you have questions or want to check on the status of your loan, you can call and speak directly with me, or one of the processors involved with your loan. All without any hassles or surprises.” Regal Bank’s income prop- erty experts utilize their collective experience, knowl-
edge and creativity to iden- tify the best financing so- lutions for each situation. Whether you’re seeking to secure financing with the greatest proceeds, the low- est interest rate, the longest amortization, or the most flexible prepayment options, Regal Bank can match your investment goals. “I’ve been doing this since the late ‘80s so I know the in- dustry and the north Jersey markets,” Howland added. Recent Transactions Recently, Regal Bank fi- nanced a five-story, 19-unit multi-family building in Hoboken, NJ. Investors bor- rowed $2 million on a $2.75 value at 3.75% non-recourse for five years, with a 30-year amortization schedule. Investors in Union City chose Regal Bank for a $775,000 loan ona $1,035,000 purchase price to buy a 15- unit, four-story walk-up. Terms for the non-recourse loan were 3.625% for five years. Multi-Family Investments Have a Promising Future Multi-family housing could well prove a sound invest- ment for aspiring landlords in northern New Jersey. Ac- cording to Howland, it is an income opportunity with a favorable outlook. “The recent economic down- turn has proven that the val- ue of multi-family dwellings here holds steady. Here in northern New Jersey, where areas are fully developed, new supply is very limited. With continued uncertainty about home prices, the de- mand for rentals remains strong. That means property values hold up very well,” Howland said. For investors, this could be the right time to refinance an existing balance or tap into your building’s equity. The current buyer’s market could also present an ideal opportunity to expand upon a current portfolio of rental properties and be well-poised for the real estate rebound. Headquartered in Liv- ingston, NJ, Regal Bank serves northeastern New Jersey including Bergen, Hudson, Middlesex, Som- erset, Essex and eastern Morris Counties. ■
Jersey for multi-fam- ily financing terms that are hard to beat. With n o n - r e - course loans available up to $4.5 mil-
Regal Bank is a local lender, which could make all the difference in your borrowing experience.
sionalism, and quick ex- ecution on loans,” said Sean Howland, vice president of commercial real estate lend- ing for Regal Bank. “In the past our typical niche has been smaller commercial deals in the $1 million to $1.2
to $4.5 million. Regal Bank is ready to deal.” Regal Bank is a local lend- er, which could make all the difference in your borrowing experience. “The lending market is highly competitive, so cus-
Sean Howland
lion, more and more multi- family investors are turning to Regal Bank for acquisition, refinancing, renovations and loan modifications.
Call Fowler today to find out how we can make your laundry room more profitable.
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