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

20 Units Multifamily

Another Successful Funded Loan

  • $2,572,500
  • 5 Year Fixed @ 3.750%
  • Purchase  -73% LTV
  • 20 Units
  • Multifamily Property
  • Pomona, CA

ASSIGNMENT:

This was a purchase transaction for past clients who had sold one of their buidlings that we had previously financed.  

CHALLENGE:

Boy o Boy did they have a tough time locating an upleg property and then making a decision to move forward once they found a property. It was a difficult process for the clients with market values being high and their exchange funds and reserves were tight. 

SOLUTION:

We suggest that they do a cash out refinance on one of their other buildings to free up some cash that could be used towards the purchase and reserves. This eliminated the need to sell a 4 plex that they had that was cash flowing real well for them. Got the deal done and very happy for them.