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Flatbay Capital Provides $3.3 MM CRE Loan for Texas Steel Distributor

Flatbay Capital LLC (“Flatbay”) (www.flatbaycapital.com) announces the closing of a $3.3MM loan for a full-service metal distribution center in Houston, secured by a newly constructed 60,000 square foot owner-occupied commercial warehouse facility. With a significant amount of equity in the property, the loan proceeds provided the borrower with enough liquidity to pay off the incumbent lender, cash out for working capital, and funds to allocate towards expansion plans at the subject property.


Flatbay Partner/BDO, Vivian Thompson, shared her thoughts on the relationship: “Hardships in the Oil & Gas industry coupled with the effects of Covid-19 left the borrower needing access to capital quickly. Flatbay was impressed with the strong leadership team and solid plans for diversified growth, which equipped us with the necessary confidence to move forward when the banks could not. This bridge loan will allow the company to focus on operations to reach profitability and be on a short path to securing traditional financing in the near future.”


Flatbay Capital LLC provides non-traditional commercial real estate financing solutions ($1MM+), focusing primarily on owner-occupied office/industrial property and/or land. They offer creative deal structuring, competitive rates, and are a valuable partner to banks, asset-based lenders and their clients in all major US markets.

Flatbay Capital specializes in non-bank loan/lines $1MM+ secured with owner-occupied commercial real estate

REAL TERM SHEETS   +   COMPETITIVE TERMS   +   NO DSC REQUIREMENTS

Other recent owner-occupied commercial real estate fundings

$4.4MM

BRIDGE LOAN

OIL/GAS

HOUSTON

$1.27MM

BRIDGE LOAN

RETAIL

HOUSTON

$1MM

BRIDGE LOAN

OIL/GAS

HOUSTON

Meet the team

Elliot Smith
MANAGING PARTNER
Jorge Puig
MANAGING PARTNER
Scott Deal
PARTNER | CENTRAL TEXAS MARKET PRESIDENT
Jesus Becerra
BUSINESS DEVELOPMENT | CENTRAL TEXAS
Vivian Thompson
PARTNER | BUSINESS DEVELOPMENT | HOUSTON
Adam Gwin
DALLAS-FORT WORTH REGION MANAGER
Lili Tafilaj
BUSINESS DEVELOPMENT | HOUSTON
Steve Hansen
BUSINESS DEVELOPMENT | SOUTHEAST U.S. | ATLANTA
Eric Jackson
BUSINESS DEVELOPMENT | SOUTHEAST U.S. | ATLANTA
Brent Coesens
VP BUSINESS DEVELOPMENT | SOUTHWEST U.S. | PHOENIX
Adam Reese
BUSINESS DEVELOPMENT | DENVER/KANSAS CITY
Warehouse.jpg

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Borrower
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Broker
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Owner-occupied property
Yes
No
Requested LTV
<50%
50-60%
60-70%
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