Gala poised for banner year.On the heels of the strongest quarter in its 14-year history, Gala Resources LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a New York-based direct lender providing short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. mortgages to real estate investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. . dealers, and builders, has posted record-breaking April results. The firm closed 68 loans in April, well above the company's average range of 40 to 50, said the firms principal and COO (Cell Of Origin) See mobile positioning. . Alan Haberman Overall closings totaled $11.2 million. up from March's total of $10.4 million. The results mark a steady, month-to-month month-to-month adj. referring to a tenancy in which the tenant pays monthly rent and has no lease, and the tenancy can be terminated by the landlord at any time on thirty-days notice. (See: tenancy, landlord and tenant) increase over the past four months. Market conditions are still favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. for real estate investment Haberman said, as residential construction continues to boom and investors seek available commercial properties. He believes that investors are turning to Gala because of its "investor-friendly" atmosphere offering fast closings and loans prepayable at any time without penalty. "Investors of all types are eager to jump into the real estate market with both feet," said Haberman. "As a result of this activity, Gala is rapidly expanding its customer base nationwide and our average loan size has increased 30 percent thus far this year." Notable April closings include a $1 million land acquisition and construction loan for three two-family homes in South Ozone Park in Queens, a $800,000 land acquisition and construction loan for three three-family homes in Brooklyn's Park Slope neighborhood, and a $535,500 bridge loan for land acquisition in Crown Heights in Brooklyn. On the national level last month, the firm closed a number of loans in Gary, Indiana and various locations in Illinois. Gala also completed transactions in Washington, D.C. and Connecticut. |
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