Thirty-five years ago, when I first founded Blackburne & Sons, I had never closed a commercial real estate loan. In other words, I founded a commercial mortgage company before closing my very first commercial mortgage loan. Pretty audacious, huh? Today my commercial mortgage company is one of the oldest commercial mortgage companies in the country, and it services over $41 million in private money commercial permanent loans. You will recall that a permanent loan is just a garden variety first mortgage on a commercial property.
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