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 the Southeastern US.
Sponsors
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
Solutions
- 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
