This was a purchase transaction and the clients were referred to us by the CRE listing agents with whom we have closed many deal with.
The biggest challenge was the uniqueness of the property. It was a mixed use property that consisted of an apartment building and a non-flagged hotel. Although property was making money the characteristics to the property made it difficult to get financed.
We reached out to one of our capital sources that deal with out of the box type transactions, and they liked our borrowers and they financed the deal, and all parties were happy. We then moved on to finance a building for the seller.