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CH FMLP BID Sheet-A and R Properties-Goldstein-300 Boardman

CH FMLP BID Sheet-A and R Properties-Goldstein-300 Boardman

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Published by: sokcordell69 on Nov 23, 2011
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07/10/2013

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Borrower:Guarantors:
 
Industry:
 
Management
 
Experience:
26
 
&
 
29
 
yrs
NAICS
 
Code:
 
FICO:
756
 
&
 
789
Purpose:
 
Principal
 
Net
 
Worth:
$2,617,100
Location:
 
Principal
 
Liquid
 
Net
 
Worth:
$65,600
Total
 
Premium:
5.00%
Excess Servicing:
Pooler
 
Name:CDC
 
Lender
 
:Underwriting
 
Methodology:
Injection Amt (Percentage of Project):386,029$1st TD Conventional Loan Amount: 1,561,015$
Interest Rate: 6.490% Interim Loan Fee (1st TD):2.000Prepayment Penalty:TBTerm:2Collateral:Subject Real Estate LTV:50.00Subect Real Estate 37.64% 
1.50
 
DTI,
 
Global
 
cash
 
flow
 
with
 
management
 
fee
 
as
 
expense
SBA
 
504
 
FMLP
 
Pool
 
Bid
Pre
flight
 
A
 
&
 
R
 
Properties,
 
LPSteven
 
Goldstone
 
and
 
Arthur
 
&
 
Roberta
 
Goldstone
 
Fam.
 
Trust,
 
M.N
 
Goldstein
 
COMerrill
 
LynchTBDFurniture
 
Stores442110Refinance300
 
Boardman
 
Poland
 
Rd.Boardman,
 
OH
 
445121.00%
Principal
 
Information
 
Bridge Loan Fee (2nd TD): Prepayment Penalty: Term: Collateral: 
LTV:
1.500% 7,6,5,4,3,2,120 3.850% 
Executive
 
Summary
 
:
1,174,985$2nd TD Interim Loan Amount:
Interest Rate: 
Products
 
&
 
Services:
 
The
 
two
 
operating
 
companies,
 
M.N.
 
Goldstein
 
Co,
 
Inc
 
and
 
Goldash
 
Furniture
 
Corp
 
sell
 
residential
 
furniture,
 
bedding
 
and
 
home
 
accessories
 
in
 
Ohio
 
and
 
Pensylvania.
Market:
 
Goldsteins
 
has
 
five
 
retail
 
stores
 
and
 
serves
 
primarily
 
a
 
five
 
county
 
region,
 
which
 
includes
 
Mercer
 
and
 
Lawrence
 
counties
 
in
 
Pensylvania
 
and
 
Turmbull,
 
Mahoning
 
and
 
Columbiana
 
counties
 
in
 
Ohio.
History:
 
Goldsteins
 
began
 
business
 
in
 
Sharon,
 
PA
 
in
 
1901.
 
Over
 
the
 
past
 
100
 
years
 
the
 
company
 
has
 
been
 
passed
 
down
 
from
 
generation
 
to
 
generation
 
and
 
is
 
now
 
owned
 
by
 
Steven
 
Goldstone.
 
The
 
five
 
retail
 
locations
 
and
 
warehouse
 
are
 
owned
 
by
 
an
 
affiliate
 
company,
 
A
 
&
 
R
 
Properties.,
 
LP.
Management:
 
Steven
 
Goldstone
 
is
 
the
 
President
 
and
 
CEO
 
and
 
has
 
worked
 
in
 
the
 
business
 
for
 
approximately
 
26
 
years.
 
Mr.
 
Goldstone
 
is
 
assisted
 
by
 
the
 
Merchandising
 
Manager
 
that
 
has
 
been
 
with
 
the
 
company
 
11
 
years,
 
a
 
CFO
 
who
 
has
 
been
 
with
 
the
 
company
 
since
 
2003
 
and
 
a
 
warehouse
 
manager
 
that
 
has
 
been
 
with
 
Goldsteins
 
for
 
29
 
years.

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