Tauro Capital Advisors, Inc. was engaged on an exclusive basis to source refinancing for a portfolio of 6 multi-unit apartment buildings in Los Angeles County.
This portfolio consists of 6 separate multi-unit apartment buildings ranging from 10-25 units.
The sponsors are active investors with excellent financials and experience. They own multiple other multi-unit properties valued at over $100 million.
- Sponsors were looking to obtain max cash out and lowest rate in an extremely volatile rising rate environment.
- Funding secured with a conventional bank that was able to provide sponsors max cash out at a rate in the low 3’s with interest only for the full-term.
- Interest Rate: 3.25%
- Amortization: Interest Only
- Term: 5 years
- Recourse: Non-Recourse