• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

106 Units- Multifamily Property Smyrna, GA

Another Successful Funded Loan

  • $10,935,340
  • 6 Year Interest Only @ 5.140%
  • Purchase-68% LTV
  • 106 Units- Multifamily Property Smyrna, GA

ASSIGNMENT:

A father son team whom we have financed over 100 million, just sold their last multifamily asset in Long Beach Ca. A definite milestone type sale launching them into a different level. Turned out to be a 1031 exchange assignment

 

CHALLENGE

These clients were big players in the long beach area but once you go out of state on big transactions like this, management becomes a concern, and then large loans like this not many portfolio banks in the game. We also needed low doc and max IO.

 

SOLUTION:

We were able to place this under a Fannie MaeDus program and got some rate discount for green rewards program, and for a 10 year fixed we achieved 6 years Interest Only. Quick Close as well.