Richmond 11 Unit Multifamily – Refinance

Richmond, CA

$1,000,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis for the refinance of an 11 Unit Multifamily property in Richmond, CA.

Property Description

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.

Sponsors

The Sponsor is an experienced multifamily investor that made most of her money from a trucking company that she recently sold.

Challenges

  • Had to beat the existing Fannie and Freddie quote.
  • Had a 1% prepayment penalty.

Solutions

  • Sourced lender that was able to provide a 30-year term with more flexibility.
  • Lender had no origination fee and minimal loan costs.

Funding

  • Loan to Value: 30%
  • Interest Rate: 3.625%
  • Amortization: 30 years
  • Term: 30 years
  • Prepayment: Step-down

Senior Director  | Capital Advisor

714-469-6718

mingle@taurocapitaladvisors.com