Rush Capital

From sourcing construction financing, to asset management, Rush Capital oversees real estate investments to maximize returns.

Rush Capital is able to secure the most competitive capital whether it be for construction debt and project equity for ground up development to acq/rehab, permanent financing, or bridge loans. Rush Capital is a mortgage banking platform positioned like few others given its also a borrower of many lenders and can leverage the client relationship to get more attractive terms for its clients.

Rush Capital also oversees the real estate investment portfolio for the Rush Companies and sources debt/equity, and provides third party asset management services for other owners/investors/developers.

Recent Closings

Garden Style Apartment

69% LTV 10-Year Fixed-Rate Loan

Rush Capital closed an $18.2MM construction to perm loan for a 136 unit garden style apartment project in Port Orchard, WA with a regional lender. The 69% LTC loan was for 10 years at a fixed rate of 4% and three years of interest only and then 30 year amortization thereafter.

152nd & Canyon Medical Office

3.9% 10-Year Fixed-Rate Loan

Rush Capital recently closed permanent financing on 152nd and Canyon Medical Office. The 20,000 SF medical office building is fully leased and occupied by medical tenants. Blake Carbonatto negotiated a 10 year fixed rate loan with limited prepayment penalty at 3.39% with a 50 bps fee and 30 year amortization with a regional lender.

Merrill Gardens at Wright Park

$33.25MM Construction Loan

Rush Capital closed a partial recourse $33.25MM construction loan for Merrill Gardens at Wright Park, a 133 unit midrise assisted living project in the Stadium neighborhood of Tacoma, WA with a national senior housing lender. The 60% LTC loan was priced at 2.90% over one month libor with a 5 year term and 65 bps fee. Recourse burns down at completion and the rate reduces to libor plus 2.65%.

Park Plaza

75% LTV 10-Year Fixed-Rate Loan

Rush Capital recently closed permanent financing on Park Plaza in Gig Harbor, WA. The 62,000 SF Class A office/medical office building is occupied by medical, dental and business tenants and offers spectacular views and ample parking. Danny Kruse and Blake Carbonatto negotiated a 10 year fixed rate loan with 75% LTV and 25 year amortization with a community bank.

The refinance allowed the developer, Rush Development, to return capital and improve cash flow to generate far better than expected cash on cash returns.