REDWOOD CITY, Calif. -- Atherton Trust, a Redwood City California based Real Estate Wealth Management company, has successfully refinanced $14 million of debt on an investment real estate portfolio. Atherton Trust is the leader in real estate wealth management offering a comprehensive array of services
"This refinancing was a challenge due to the way the previous trustees managed the portfolio of properties," stated Kraig Kast, CEO of Atherton Trust. Working closely with Kari Noomen, one of the top three Senior Multi-family Lending Consultants at Washington Mutual, Atherton Trust was able to help reconstruct financial records, develop a renovation plan, improve property management, structure loans based on projected hold periods and save hundreds of thousands of dollars in loan interest costs verses the previous loans. Stated Noomen, "The property's financial information was not in order so that we could quickly fund these loans. With the help of Atherton Trust, we were able to gather the needed financials, do the appraisals and fund the renovations before rates increased. Atherton Trust also helped resolve issues that created a hold back." Kast added, "Our real estate wealth management plan is working, and occupancy has dramatically improved over the last few months, thereby improving cash flow. By combining our real estate wealth management expertise with Kari Noomen's lending skills, the portfolio is now producing the anticipated return for the family."
About Atherton Trust Company: Atherton Trust is the leader in real estate wealth management. With offices in the 25 largest metropolitan areas of the country and over 300 estate and financial planning experts, tax strategists, financial analysts, investment and lending professionals, portfolio managers, real estate brokers and property managers in its Atherton Investment Advisors group, and research and family advisory services departments, Atherton Trust provides the world's most comprehensive real estate wealth management services.
About Washington Mutual: Washington Mutual is one of the nation's leading consumer and small business banks. At September 30, 2006, Washington Mutual and its subsidiaries had assets of $88 billion. The company was established in 1889 and currently operates more than 2,600 consumer and small business banking stores and 3,700 ATMs throughout the nation.