Pine Garden Multifamily – Refinance

San Bernardino

$7,520,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place debt on 88 units with cash out for the sponsor’s other investments.

Property Description

Located in San Bernardino, this is a garden-style 88-unit apartment building.

Sponsors

Repeat customer that we’ve closed multiple deals for this year. He was looking for cash-out and a cheaper interest rate.

Challenges

  • Significant cash-out
  • Lower income neighborhood

Solutions

  • Repeat customer where we established a relationship between him and a lender

Funding

  • Interest Rate: 3.25%
  • Amortization: 30-year
  • Term: 5-year
  • Prepayment: Step-down

Director  | Capital Advisor

310-966-0025

fpaparella@taurocapitaladvisors.com