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

89 Units Multifamily

Another Successful Funded Loan

  • $6,055,000
  • 5 Year fixed @ 4.70%
  • Purchase-70% LTV
  • 89 Units
  • Multifamily Property
  • San Bernardino, Calif

ASSIGNMENT:

We had just closed a loan for this investor and they came back with an off market asset and wanted our assistance in structuring the transaction. Coincidently we came to learn that the investor wanted to buy a property that we had financed a few years before for the seller.

 

CHALLENGE:

Since no agents were involved in the transaction and both the seller & buyer were past clients, we literally had to play the role as an agent and help communicate back and forth for clients all the way to closing. It was a lot fun, both clients were great and cooperative.

 

SOLUTION:

Property had significantly appreciated since the last time we financed it. Sellers had invested a lot of money into the building and rents increased dramatically. Buyer preferred a stated program so we got them into a nice 5 year fixed, 30 due in 30 with 30% down payment.