Visalia Multifamily – Cash Out Refinance

Visalia, CA

$12,300,000

Funding Purpose

Rate and term refinance taking advantage of historically low interest rates. Removing future interest rate risk, evidenced recent treasury volatility and inflation expectations.

Property Description

146 unit multifamily property consisting of 1, 2 and 3 bedroom homes originally built in the 1980’s.

Sponsors

The sponsors are experienced Real Estate investors.

Challenges

  • Low Interest Rate Target Interest Rate Volatility

Solutions

  • Created a market among lenders to compete for the business resulting in low and aggressive interest rates making the rate and term refinance economically viable. Rate volatility required team grit and focus to execute with the best terms.

Funding

  • Loan Amount (LTV): $ 12.3M
  • Interest Rate: 3.1%
  • Amortization: 30 Y
  • Recourse: None
  • Interest Only: 5 Y

Director  | Capital Advisor

858-337-7345

mmueller@taurocapitaladvisors.com