Sold

Multifamily - 2 Property Refinance

Southeastern, US

$1,200,000

Southeastern, US



Funding Purpose:

sponsor purchased two properties all cash and was looking to utilize the strong debt market to leverage the property.

Property Description:

A total of 25 units located in Panama City Beach, Florida

Sponsor:

A local sponsor located in Los Angeles looking to take advantage of higher returns out of state

Challenges:

  • Multiple APNs created collateralization issue
  • Rural Location
  • Out of State Buyer

Solution:

  • We marketed to 20+debt sources to find a viable solution
  • Used our relationships with 3rd-parties on diligence to expedite the process

Funding

  • Loan Amount (LTV): $1,065,000
  • Interest Rate: 4.20$
  • Amortization: 30-year
  • Term: 15-year
  • Recourse: Full-Recourse


Frankie Paparella

Frankie Paparella

TITLE

Associate Director, Capital Advisor

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