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

43 Units- Multifamily Property San Bernardino, Calif.

Another Successful Funded Loan

  • $4,185,000
  • 5 Year fixed @ 4.18%
  • Purchase-78% LTV
  • 43 Units- Multifamily Property San Bernardino, Calif.

ASSIGNMENT:

This was a purchase transaction for a repeat client who had initially been referred to us by CRE agents. Client was in a 1031 exchange and bringing in additional investors on the deal.

 

CHALLENGE

We had one borrower who had to vest in a certain manner to satisfy his exchange while at the same time entering into a new LLC with his investing partners in which he was also going to be the managing member and qualifying applicant for the new loan.

 

SOLUTION:

Wasn’t hard for us since we have been there and done that before. Deal was structured as a TIC and we financed under Freddie Mac SBL program requiring no tax returns and achieved almost 80% LTV.