A closing announcement like this is called a tombstone, and the purpose of any tombstone is to give mortgage brokers an example of the types of deals that a particular lender makes. The message we want to convey today is that Blackburne & Sons is still making new commercial loans, and we will finance special-use properties such as a funeral home.
We are pleased to report these two new closings! This COVID-19 scare has not slowed us down. These loans are secured by two seasoned funeral homes, that have recently been renovated, in Connecticut. The borrower used this $525,000 to payoff maturing loans.
Blackburne & Sons is a hard money commercial lending company that surprisingly makes permanent loans, rather than bridge loans. We syndicate the investment funds of about 900 private investors and use these funds to make permanent first mortgage loans on standing commercial properties. The company has been in business since 1980, so this is now our 40th year in business. The company currently services approximately 250 commercial first mortgage loans totaling approximately $50 million.
For more information, please call Alicia Gandy at 916-338-3232 ext. 310 or email her at gandy@blackburne.com.
