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

5 Units Multifamily

Another Successful Funded Loan

  • $750,000
  • 5 Year Fixed @ 4.375%
  • Purchase-75% LTV
  • 5 Units
  • Multifamily Property
  • Los Angeles, CA

ASSIGNMENT:

This was a purchase transaction with one of our past clients except on this transaction he was buying with a friend who became a new client for us. We are thankful for all business and it is totally amazing how one transaction can lead to multiple new relationships.

CHALLENGE:

For this transaction the biggest challenge was obtaining al the documentation from the seller.  The listing agent had been very ill during the transaction and we knew that a little extra hand holding was necessary on this deal. We welcomed the challenge made new friends and ended up afterwards being contacted for new assignments with the agent.

SOLUTION:

Our team packaged and underwrote the borrowers and the property then aligned with a program that the clients liked. Despite the difficulties in obtaining documentation from the seller we ended up closing on time. Everyone was happy.