a8 Delivers $2,200,000 Newport Coast, California
- Richard Jaffe, a8
- Apr 23, 2018
- 1 min read
After the banks had closed on a recent Tuesday evening an akceler8 Partner received a distress call: Approximately $400,000 of escrow fees had been released, the property appraised for more than $1,000,000 more than the home had been sold for. The seller would not be flexible and another $2,200,000 was required in escrow by Friday @ 5pm or the initial $400,000 would be forfeited.
Did we know anyone who would be capable, interested and willing on 60 hours notice to put up $2.2m?
Quickly reviewing our Investor relationships, we immediately thought of 3 Private Equity Investors to fit our criteria. Twenty-one hours later the prospective Investor was on-site and touring the magnificent property. A commitment to move forward with the $2.2m investment followed that afternoon…and funded the next day…24 hours before deadline.
Our client saves $400,000 and will make between $4m-$5m on the transaction.
Do you have need for Opportunity Capital? Growth Capital? Let's connect to see if there's a fit.
Contact:
Robert Soljacich
Bob@akceler8.com
or
Richard Jaffe
Richard@akceler8.com
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