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Pinnacle Closes Atlanta Multi-Family Bridge deal in 13 days

January 10th, 2017

Pinnacle Financial Group is pleased to announce that it recently arranged bridge financing for the acquisition and substantial redevelopment of two multi-family properties comprised of 194 units in Atlanta, Georgia.

Notwithstanding the short term closing requirement and lack of in-place cash flow, Pinnacle sourced and closed a 12 month interest only facility for $5.2 million (85% LTC) in 13 days.

Regarding the transaction, Pinnacle Senior Vice President of Originations, Chris Litzler noted, “The short term nature of this transaction required unmatched teamwork between Pinnacle and the Lender. The deal is an incredible example of the creative sources of capital that are offered by many of our national, long standing, lending relationships.”

Pinnacle Closes Grocery-Anchored Shopping Center Loan

June 1st, 2016

Pinnacle Financial Group, Inc. is pleased to announce the closing of a loan on a 108,000 square foot grocery-anchored shopping center in Green, Ohio.
Heritage Crossings of Green was closed with one of Pinnacle’s correspondent life insurance company relationships on a 20 year, fixed-rate self-amortizing structure, non-recourse, no reserves and a loan amount of $16 million. The loan-to-value was 65% and the interest rate was locked at application at the beginning of the 90 day closing time frame.
Pinnacle was formed in 1990 and is currently one of the largest independently owned mortgage banking companies in the Midwest. Pinnacle is a leading member of Strategic Alliance Mortgage (SAM), an organization of 23 mortgage banking companies with 51 offices throughout the United States. SAM ensures local expertise within a powerful national platform. Pinnacle consistently delivers their clients the best possible capital available in the market. For more information about Pinnacle, its partners and services can be found on their website at www.pinnaclefinancialgroup.com.