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

28 Units Multifamily

Another Successful Funded Loan

  • $3,225,000
  • 5 Year Fixed @ 3.75%
  • Purchase-75% LTV
  • 28 Units
  • Multifamily Property
  • Long Beach, Calif.

 

ASSIGNMENT:

This was a purchase transaction for a client in a 1031 exchange. He had just beat out a bunch of competitors and went under contract on these units

CHALLENGE:

The borrower had went hard on $200 k at opening of escrow a requirement to winning the deal. We had to perform hate to see anyone loose money.

SOLUTION:

The property needed a little TLC but the numbers worked and we were able to get maximum leverage under a full doc program and closed on time.