Two decades of Real Estate Financing Experience
Recent Closings
Medical Office Construction
First Financial Bancorp (FFB) successfully placed a $7,515,000 construction loan on a 36,000 sqft Medical Office Building in Pflugerville, Texas.
Financing was based on 70% loan-to-cost at a rate floating 1-month SOFR plus 2.50%. Other elements of the deal featured interest-only payments during construction and an interest reserve account for the 24-month construction period. The deal also includes (2) two free 90-day extension provisions, if necessary. FFB negotiated a moderate .25%bps origination fee to the lender and a minimal $7000.00 3rd party reporting deposit. Loan was completed in 60-day timeframe.
Kelly sorensen
About
As Executive Vice President, Mr. Sorensen is responsible for securing debt and equity financing for an array of property types including, multifamily, office, industrial, retail and hospitality. He and his team are well connected with national, regional and local funding sources including, but not limited to, agency lenders (e.g. Fannie Mae, Freddie Mac), commercial banks, CMBS lenders, life insurance companies, private and public funds and bridge lenders.
In 2003, Kelly earned his MBA, with honors, from Loyola Marymount University. He and his wife Donna, son Dane and their dog Deke live in the South Bay of Los Angeles.
FIRST FINANCIAL BANCORP
What We
Finance
Multi-Family
Office
Retail
Industrial
Construction
Residential
Steeve Meepos
“Kelly did a fantastic job on putting it all together and closing the deal. He is not the 9-5 kind of people, and goes the extra-mile to make the process pain free. We have immensely enjoyed working with Kelly Sorensen.”
Services
Banks
Conduit/CMBS
Fannie Mae
Freddie Mac
Bridge
Mezzanine Debt
Life Insurance
Prefered Equity
Private
First Financial Bancorp
FFB is a California corporation formed to bring unlimited financing capabilities of the capital markets to the real estate community. First Financial Bancorp was initially formed by three former savings and loan executives who were responsible for residential, multifamily and commercial lending in the Southern California area. First Financial Bancorp uses numerous sources both institutional and non-institutional to provide its clients the best possible financing available.
