Co-op (Cooperative Corporation)

Definition:
a property that sub-divided into multi-units in which each borrower owns shares in corporation that owns the building.

Examples:
an office building converted into commercial space to be sold, not rented.

While Cooperative Cooperations are rare in the residential industry and even rarer in the commercial industry shareholders qualify for certain tax-benefits that other property owners do not receive.

A major tax deduction that shareholders in a Cooperative Corporation receive are deductions on the interest portions of maintenance payments. Shareholders are also protected against rent increases.
Properties that fit in the Co-op category will generally contain multiple dwelling units with particular common areas such as a lobby, elevator, escalator, stairs, grounds, etc.

Ecommloan provides both refinance and acquisition financing on retail properties throughout the United States, Mexico, Canada and the Caribbean Basin. We strive to provide every client the best possible product to fit any and all loan scenarios tailored to your specifications.