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

43 Units Multifamily

Another Successful Funded Loan

  • $2,100,000
  • 5 Year fixed @ 4.10%
  • Purchase-70% LTV
  • 43 Units
  • Multifamily Property
  • San Bernardino, Calif.

ASSIGNMENT:

We were introduced to a client by one of our CRE Brokers that we often work with. After that intro we closed at least 6 apartment loans for the client and his partners.

 

CHALLENGE:

The subject property was not under the best management and as such did not show terrific. This client was bringing in investors into the deal but they did not want to have to qualify for the loan.

 

SOLUTION:

We helped them structure their new entity (LLC) our client became the manager and since the other partners’ ownership interest were less than 20%, none had to be considered loan applicants. We closed on time and on to the next transaction.