Tauro Capital Advisors, Inc. was engaged on an exclusive basis for the refinance of an 11 Unit Multifamily property in Richmond, CA.
This asset is a fully leased and stabilized multifamily complex located next to Albany Hill Park with a view of the Bay Area. It also provides easy access to the I-80 and downtown San Francisco.
The Sponsor is an experienced multifamily investor that made most of her money from a trucking company that she recently sold.
- Had to beat the existing Fannie and Freddie quote.
- Had a 1% prepayment penalty.
- Sourced lender that was able to provide a 30-year term with more flexibility.
- Lender had no origination fee and minimal loan costs.
- Loan to Value: 30%
- Interest Rate: 3.625%
- Amortization: 30 years
- Term: 30 years
- Prepayment: Step-down