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

18 Units- Multifamily Property Van Nuys, Calif.

Another Successful Funded Loan

  • $1,522,000
  • 5 Year fixed @ 4.70%
  • Purchase-61% LTV
  • 18 Units- Multifamily Property Van Nuys, Calif.

ASSIGNMENT:

1031 exchange with a short deadline. Loan had to close in 45 days or exchange would fail.

 

CHALLENGE

Short closing time was mitigated by completing all of the borrower’s paperwork in a timely manner with an appraisal that was expedited. At the same time, borrower wanted a non-recourse loan.

 

SOLUTION:

Loan was sized and placed with the only lender that could provide a quick turn time on appraisal and a non-recourse loan (non-agency)was successfully provided to borrower. Loan request was expedited and the 1031 exchange closed successfully.