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

7 Unit Multifamily

Another Successful Funded Loan

  • $1,050,000
  • 10 Year Fixed @ 4.65%
  • Purchase- 48% LTV
  • 7 Units
  • Multifamily Property
  • Pasadena, CA

ASSIGNMENT:

This was a purchase transaction assignment for clients who were in a 1031 exchange. They were buying these units as well as a single family residential property.

CHALLENGE:

The borrower's came to us late in their 1031 exchange time frame. They had already burned through their identification period and they were already in escrow and they had to close in less than 30 days.

SOLUTIONS:

We quickly identified the clients wish list on loan terms and did a rapid due diligence on the borrower's. Fortunately the borrower's were very organized which helped us n performing on time. We identified the best program that met their criteria, rushed the appraisal process and closed in less than 30 days.