Business executive Evan Seiden, a resident of FL, graduated a year early from Cornell University before beginning his work in the real estate investment industry. Evan Seiden serves as Chief Executive Officer of Relentless Capital in Miami, FL.
Recently, Relentless Capital closed on an approximately 600,000 square-foot industrial property in Miami-Dade County. The property, which consists of three warehouses in addition to parking for trucks and heavy equipment, sold for $12.5 million in an off market transaction.
Commercial mortgages refer to loans used to secure commercial land or property, such as warehouses, apartments, or shopping centers. Lenders for these types of loans range from traditional banks and asset backed trusts to life insurance companies and government sponsored enterprises.
Commercial lenders typically require personal and business tax returns in addition to business records and bank statements before approving a new mortgage. Outside these standard requirements, applicants typically must provide information on all partners and managers involved in the operation of the business. In addition, commercial lenders require a comprehensive business plan that includes projected earnings to ensure the health and viability of a company seeking a commercial loan.
Once all the required information is collected, commercial mortgage underwriters complete a thorough review before either approving or denying the loan.
Evan Seiden 