September 28, 1998

Celtic Financial Group LLC Closes $2.8 Million Loan for Industrial Property

Judd A. Volk, President of CELTIC FINANCIAL GROUP LLC ("CFG"), today announced the closing of a $2.8 million loan on a 206,700 square foot industrial property in Miami, Florida.  The property serves as the headquarters for Mako Marine International, a leading manufacturer of fishing and other boats.  The fixed-rate, non-recourse financing was structured as a 10-year loan with a 25-year amortization schedule, 54% LTV, 1.35 minimum DSCR, and an interest rate of 7.40%.

Headquartered in Great Neck, New York, CFG is a real estate finance firm specializing in fixed-rate, non-recourse commercial and multifamily mortgages.  CFG has established three programs to finance a wide variety of properties:

1. Standard Program
• Covers all asset types, including multifamily, office, retail, hotel, industrial, self-storage, and manufactured housing
• Loans starting at $1,000,000, with no maximum
  

2. Small Multifamily Loan Program
• Multifamily properties only with 5 units or more
• Loans between $250,000 and $3,000,000
  

3. Small Commercial Loan Program
• Retail, office and industrial properties only
• Loans between $250,000 and $2,000,000

For additional information contact:
Judd A. Volk, President
Celtic Financial Group LLC
505 Northern Boulevard
Great Neck, NY 11021
(516) 466-0550 · (877) CFG-0550
Fax: (516) 487-5944
Email: cfg@celticfinancial.com
Website: http://www.celticfinancial.com

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Judd A. Volk, President
60 Cutter Mill Road Suite 402 Great Neck, NY 11021
(516) 466-0550 Fax: (516) 487-5944

 All transactions where we act as a commercial mortgage broker will be handled under the letterhead of GCP Capital Group LLC

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Last modified: July 19, 2001