Flatbay Capital LLC Closes $2.4MM CRE Loan for Private Equity-Owned Steel Distributor

Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,400,000 commercial real estate term loan for a private equity-owned steel distributor based in Houston. The deal was referred by their large regional bank, who wasn’t able to provide the working capital due to regulations, the client’s current cash flow position, and the percentage of exposure in the energy sector. The property was used as collateral for the 2-year interest only term loan, and provided the perfect solution to bridge the gap until the economy recovers.

Flatbay’s Business Development Officer, Emily Rommel, stated, “With the complex ownership structure, the client’s long-term banking relationship and their reduced profitability in the current environment, it was important to facilitate clear and constant communication from all parties in the beginning. We were able to get the deal done successfully with everyone on the same page.”

Flatbay Capital LLC provides owner-occupied real estate loans ($1MM+) across all major Texas markets and the surrounding states. They offer creative deal structuring for non-bankable deals, competitive rates, and bring value to banks, asset based lenders and their clients.